The Ricardo PLC Board has declared an interim dividend of 1.75p per share (HY 2019/20: 6.24p), which reflects the Board's desire to return to paying dividends to shareholders, balanced with the speed and shape of the economic recovery as we emerge from the impact of COVID-19. The dividend will be paid on 9 April 2021 to holders of ordinary shares on the company's register of members on 5 March 2021.
Other financial highlights include:
Trading in line with expectations, with the business recovering from the impact of COVID-19;
Order intake, revenue and operating profit have all increased on the six months to June 2020, albeit lower than HY 2019/20;
Good performance in Energy & Environment and Rail, both delivering an increase in profits on HY 2019/20;
Automotive market overall remains challenging, but is improving slowly with increased order intake in the US and China compared to the six months to June 2020;
Performance Products deliveries in line with our expectations;
Defense fleet retrofit approaching contract award;
Share placing completed, raising £28m, to reset the capital structure of the Group;
Excluding the fund raise and adjusting items, underlying reduction in net debt of c.£3m for the period (increase in net debt of c.£5m after adjusting items); and
