- Engineering group Ricardo said its underlying annual profit was in line with market expectations amid a recovery in sales.

Revenue for the year through June was about £350 million, or similar to the previous year, the company said in a trading update.

Order Intake was over £350 million, compared to £369 million year-on-year.

'During the course of the year ended 30, Ricardo has continued to recover from the impact of Covid-19,' the company said.

'In the first half of the financial year, both revenue and operating profit increased on the prior six-month period and this trend has continued in the second half of the financial year.'

'All divisions saw a higher level of activity and increased their revenues in the second half of the year.'

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