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Record Order Book Means 'Business As Usual' With £35m Order

Record Order Book Means 'Business As Usual' With £35m Order

Added to MTDCNC by MTDCNC on 20 July 2016

The CEO of Ricardo PLC has announced that despite the market uncertainty in the aftermath of Brexit, its business as usual for the global engineering business. This comes after the company has just announced an order for £35m for dual clutch transmissions.
 
Since its trading update on 19 May 2016, Ricardo has said that overall customer activity in the last two months has been positive leading to a strong year-end order book. This order book includes a £35m contract received by Performance Products to supply advanced Dual Clutch Transmissions to a leading OEM in the luxury supercar market, over the life of the vehicle.

The vote to leave the EU has clearly caused some uncertainty within the wider market and Ricardo continues to monitor the situation carefully. But, the company doesn't expect it to have any significant impact on business performance. 

Ricardo PLC Chief Executive Officer, Mr Dave Shemmans said:: “We have ended the year with a strong order intake in the final quarter which sees us entering the new financial year with a record order book. Against the backdrop of the EU referendum result it is business-as-usual for Ricardo and we continue with confidence as we look forward to developing and growing our business further in the year ahead.”
 

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