Ricardo plc has said that it is pleased to announce that it has signed a significant contract, with SAIC Motor Co., Ltd, with regard to a number of engineering development programmes.
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Ricardo said that it is expected that the contract will have little impact in this financial year which ends on 30 June 2005, but it does give the Board increased confidence regarding the outturn for the full year.
It is too early to predict the anticipated contribution to the new financial year 2005/6, says Ricardo.
The company also said that it will provide a financial update in mid July at the time of our pre close statement.
Commenting on the announcement, Rodney Westhead, Chief Executive of Ricardo said: “We have been exploring opportunities to develop our business in China for a number of years and I am very pleased that as part of this process we have been able to win important engineering development work back home in the UK.”
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