The
UK’s leading independent automotive consultancy has reported an increase in
profits.

Ricardo plc, which employs over 1,400 people, registered a 21 percent increase
in profit before tax of £6.8 million, on the back of turnover of £67
million, a 25 percent increase.

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The company, which has technical centres in the UK, USA, Germany and the Czech
Republic, also reported a 29 percent increase in orders to £53 million
and has formed a joint venture with Schenk.

Commenting on the results, Chief Executive Rodney Westhead said:

"We are pleased to report a strong set of results at a time when the automotive
industry faces considerable challenges. Our order book is in a strong position
and we remain confident that Ricardo will continue to deliver a solid performance.

"Ricardo remains optimistic about the future."

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