Ricardo announced mixed results for full-year FY19. Revenues were up 2% to £384m, with flat CC/CS growth. We estimate that revenues declined slightly (flat to -1%) in H2, impacted by a collapse in Technical Consulting (TC), it ER&D unit.
Jacobs Engineering, a US infrastructure giant, is to acquire the nuclear engineering business of (another infrastructure giant in the UK) Wood. Jacobs is paying an enterprise value of USD 300m.
ERDservices.org rarely reports about Cognizant, the NJ-headquartered but India-centric IT services giant in the space of ER&D services. Despite its size (2018 revenues of USD 16.1bn) and high-growth, Cognizant is little-visible in the ER&D area and is not a significant player in this industry.
British ER&D service vendor Ricardo has renewed and expanded its engine manufacturing contract with McLaren. The company will manufacture engines for McLaren’s Track 25 plan. McLaren is expanding its car portfolio and as part of Track 25, will design 18 new models or derivatives of existing models.
Belcan made its second acquisition in the UK, since it was taken over by PE AE Industrial Partners. The acquired firm is Sitec, through its two units Sitec Design and Sitec Recruitment.
British ER&D service vendor Ricardo provided a “trading update” that suggested a soft performance in H1FY19, the period ending December 31, 2018.
British ER&D vendor Ricardo unveiled its “trading update” to provide some information about its financial performance in FY18 for its revenues, profitability, and bookings. Ricardo’s full-year FY18 revenues were above £380m, up 7.9% yoy, and up 5.1% yoy at
Ricardo surprised us by a very solid financial performance in H1 FY18 (ending December 30, 2017). Revenues were up 9.3% to £183m, and up 7% both at CS and CC/CS. Its Performance Product (small series manufacturing) was up 22%