Ricardo (RCDO)

Sector:

Support

Index:

FTSE Small Cap

457.00p
   
  • Change Today:
      9.00p
  • 52 Week High: 610.00
  • 52 Week Low: 404.00
  • Currency: UK Pounds
  • Shares Issued: 62.22m
  • Volume: 85,138
  • Market Cap: £284.34m
  • RiskGrade: 242

Ricardo CEO Shemmans quits as trading picks up

By Sean Farrell

Date: Monday 25 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Ricardo announced the departure of Chief Executive Dave Shemmans as the engineering group reported improved trading in the second half.
Shemmans has run Ricardo for more than 15 years and joined the company in 1999. Ricardo said it expected him to stay in his job until it finds a replacement.

Ricardo said trading was in line with its expectations in the six months to the end of December as business picked up from the impact of Covid-19 earlier in the year. Orders, revenue and profit were all lower than in the second half of 2019 but improved on the first half.

The company's shares rose 5% to 409.4p at 09:27 GMT.

Orders fell 13% to £181m from a year earlier but were up 13% from the first half. The order book at the end of December was more than £315m compared to £314m at the end of June and £319m a year earlier.

Energh and environment orders rose 15% to £28m and defence orders rose 60% to £22m. These successes were offset by falling orders for performance products, automotive and industrial and rail. Performance products was hit by the shutdown of McLaren's factory, which has reopened. The automotive market is still tough but the pipeline is good, Ricardo said.

Shemmans said: "I have thoroughly enjoyed being part of Ricardo's success story and am pleased that the group is well placed to deliver on its growth strategy.

"We have traded in line with the board's expectations and continue to navigate the Covid-19 backdrop with all key financial metrics improving well on the preceding six-month period. Order intake has been good and this has resulted in a healthy order book at the end of December, providing confidence for further improvement."

Ricardo said performance products was the main division affected by the post-Brexit trade deal. The company said it had imported and exported without major disruption but that there was extra paperwork and checks at borders had caused some delays.

The company generated cash inflow of £3m in the second half and for the whole year. Net debt was £50m at the end of December, down from £73m at the end of June after Ricardo raised £28m in a share placing.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Ricardo Market Data

Currency UK Pounds
Share Price 457.00p
Change Today 9.00p
% Change 2.01 %
52 Week High 610.00
52 Week Low 404.00
Volume 85,138
Shares Issued 62.22m
Market Cap £284.34m
RiskGrade 242

Ricardo Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.91% below the market average77.91% below the market average77.91% below the market average77.91% below the market average77.91% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Price Trend
4.8% below the market average4.8% below the market average4.8% below the market average4.8% below the market average4.8% below the market average
0.99% below the sector average0.99% below the sector average0.99% below the sector average0.99% below the sector average0.99% below the sector average
Income
5.93% below the market average5.93% below the market average5.93% below the market average5.93% below the market average5.93% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Growth
40.47% above the market average40.47% above the market average40.47% above the market average40.47% above the market average40.47% above the market average
26.00% above the sector average26.00% above the sector average26.00% above the sector average26.00% above the sector average26.00% above the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ricardo Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Mar-24 02-Nov-23
Paid 11-Apr-24 24-Nov-23
Amount 3.80p 8.61p

Trades for 28-Mar-2024

Time Volume / Share Price
16:38 20,000 @ 447.50p
16:35 5,399 @ 457.00p
16:35 8 @ 457.00p
16:35 116 @ 457.00p
16:35 567 @ 457.00p

Ricardo Key Personnel

CEO Graham Ritchie

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