Ricardo’s annual sales race ahead to £196m

ENGINEERING consultants Ricardo said sales had motored ahead yesterday, helped by the “super-rich” and car manufacturers spending again following the recession.

McLaren s Lewis Hamilton finished fifth in Sunday s Singapore Grand Prix McLaren’s Lewis Hamilton finished fifth in Sunday’s Singapore Grand Prix

The firm, consultants to Formula One teams such as McLaren, said annual sales rose 21 per cent to £196.5million with a 43 per cent profit rise to £15.4million.

Chief executive Dave Shemmans said it was working on more high-performance vehicle programmes than ever before, including engines for the new McLaren supercar and BMW motorbikes.

The super-rich remain the super-rich in a recession and out

Dave Shemmans

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“The super-rich remain the super-rich in a recession and out,” he said. Car makers were also spending more on new designs ahead of stringent new emissions regulations, he added. Ricardo also makes engines for the US Army’s unmanned aerial vehicles.

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