Shoreham-based engineering group Ricardo (www.ricardo.com) has reported an 8% rise in revenue to £380 million for the 12 months to 30 June, boosted by a record order intake as its global presence helped the business mitigate the impact of current uncertainty in the UK market.

The group is a global consultancy business that also manufactures and assembles niche, high-quality and high-performance products.

It reported a record order intake of £413 million (up £47 million on the previous year), with a record year-end order book in June of £288 million (up £40 million on June 2017).

Its underlying profit before tax increased by 2% to £39 million.

The company had a strong performance in Asia and in its electric-vehicle order intake, while the acquisition of Control Point enhanced its defence business in the USA.

It also disposed of its engine test facilities in Chicago and southern Germany to balance its asset mix, with the trend towards electrification.

Dave Shemmans, chief executive, said: “Our growing order intake, particularly in Asia, reflects our clients’ continued demand for our high-quality products and services.

"Actions were taken in our UK automotive business to respond to issues relating to a disrupted flow of orders in the second half of the year and a small number of challenging projects relating to the new WLTP emissions legislation.

"We enter the new financial year with a more agile business and a confident and positive outlook.

"Ricardo’s global capabilities and presence in a number of growing markets, together with its strong order book, all provide a solid foundation for continued growth.”