Ricardo (GB:RCDO) has released an update.
Ricardo PLC, an engineering and environmental consulting firm, reported trading in line with expectations for FY23/24, with a strong second-half recovery in profit and a 7% rise in revenue. The company highlighted robust order intake and solid pipeline visibility going into the new financial year, despite a slight decrease in orders compared to the previous year. Ricardo’s focus on working capital management has led to strong cash generation, with net debt standing at £59.6 million.
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