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Ricardo ( (GB:RCDO) ) just unveiled an announcement.
Ricardo PLC has announced the sale of its Ricardo Defense Business to Proteus Enterprises LLC and Gladstone Investment Corporation for $85 million. This move aligns with Ricardo’s strategy to focus on high-growth, high-margin sectors by transitioning towards a portfolio centered around environmental and energy solutions. Despite a temporary dip in earnings per share due to the divestment, the acquisition of E3 Advisory is expected to mitigate this impact and support long-term sustainable growth. The sale reflects Ricardo’s commitment to optimizing its portfolio and enhancing its position as a leader in sustainability-related consultancy services.
More about Ricardo
Ricardo PLC is a consultancy firm operating at the intersection of transport, energy, and environmental agendas. It offers engineering, scientific, and economic expertise to support global sustainability initiatives, focusing on environmental and energy transition solutions.
YTD Price Performance: -15.56%
Average Trading Volume: 232,269
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £250M
Learn more about RCDO stock on TipRanks’ Stock Analysis page.
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