LONDON (dpa-AFX) - Ricardo Plc (RCDO.L), a sustainable energy company, reported Wednesday a narrower pre-tax loss in its first half, with slightly higher revenues and increased order intake. Further, the company trimmed dividend.
Looking ahead, for fiscal 2025, the company projects double digit underlying operating profit growth for the continuing Group mainly as a result of the good order book.
Ricardo shares were gaining around 3.5 percent in the morning trading on the London Stock Exchange at 238.00 pence.
For the first half, loss before tax narrowed to 12.5 million pounds from prior year's loss of 12.9 million pounds. On an after-tax basis, basic reported earnings per share were 43.9 pence, compared to loss of 5.5 pence last year.
Underlying profit before tax was 4.1 million pounds, compared to prior year's loss of 3.0 million pounds.
Underlying basic earnings per share from continuing operations was 4.7 pence, compared to 4.0 pence a year ago. Total basic underlying earnings per share were 10.9 pence, compared to 9.2 pence a year earlier.
Revenue for the first half edged up 0.9 percent to 169.1 million pounds from 167.6 million pounds last year. Revenues grew 1.9 percent at constant currency rates.
Group order intake was 221.1 million pounds, up 10.2 percent on a reported basis and up 11.2% on a constant currency basis.
Further, the Board has declared an interim dividend of 1.7p per share, down 55.3 percent from last year's 3.8p. The dividend will be paid gross on April 11 to holders of ordinary shares on the Company's register of members on March 14.
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