UPDATE 1-Ricardo warns on full-year earnings

Tue May 12, 2009 11:29am EDT
 
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* Sees earnings slightly below last year

* Had previously seen earnings ahead of last year

* Says Jan-March v difficult, April has recovered (Adds details)

LONDON, May 12 (Reuters) - Engineering and automotive consultancy Ricardo (RCDO.L) cut its view for full-year earnings on Tuesday, blaming market conditions.

It said it previously expected to beat last year's earnings but now believes they will be slightly lower following a "very difficult" January to March period with "unusually lower" levels of order intake.

It said a major commercial and military truck manufacturer in the United States has decided to take significant work in-house and that several major projects in the final stages of negotiation would be delayed significantly.

The company said April order intake recovered to more normal levels but order intake over the first four months of its second half was about 30 percent below the same period last year.

(Reporting by Ben Deighton, editing by David Cowell)

 

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