UK's Ricardo tumbles on downbeat full-year outlook
30/01/2025 09:07
** Shares of consulting company Ricardo RCDO.L down 18.2%
at 290p
** Co forecasts full year 2024/25 results below consensus
expectation, impacted by order delays
** Co attributes order delays to global elections, delayed
spend ramping for UK water asset management plan cycles and
global macro uncertainties
** Stock set for steepest one-day pct fall since March 2020
** Brokerage Berenberg cuts PT on stock to 440p from Street
high of 730p
** Panmure Liberum analyst Joe Brent says sale of defense
arm and acquisition of Australian strategy consultant E3 in
December to benefit co
** In 2024, stocks fell by 14.2%
(Reporting by Simone Lobo in Bengaluru)
((Simone.Lobo@thomsonreuters.com; +919920570373;))