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The latest update is out from Ricardo ( (GB:RCDO) ).
Ricardo has announced its trading update ahead of the half-year results. The company has made strategic moves by acquiring Australia’s E3 Advisory and disposing of its Defense business, aligning with its focus on energy and environmental solutions. While these transformations position Ricardo for long-term growth, short-term challenges include delays in orders affecting revenue and profit. However, the company has seen a 10% rise in order intake and expects continued growth in its Energy and Environment sector. Despite facing short-term headwinds, Ricardo remains optimistic about its medium-term growth prospects, driven by strategic contract wins and a transformative focus on sustainability.
More about Ricardo
Ricardo plc is a global strategic, environmental, and engineering consulting company listed on the London Stock Exchange. With over 100 years of expertise, the company provides innovative solutions in energy transition, environmental services, and smart transport. With a team comprising consultants, environmental specialists, engineers, and scientists, Ricardo operates in more than 20 countries, aiming to deliver sustainable outcomes.
YTD Price Performance: -16.19%
Average Trading Volume: 174,659
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £217.7M
For an in-depth examination of RCDO stock, go to TipRanks’ Stock Analysis page.