ricardo plc
annual report  accounts 2002 ricardo plc annual report  accounts 2002  1
contents
2 financial highlights
3 corporate profile
4 recent key projects
14 board members
15 chairman’s statement
16 chief executive’s review
18 finance director’s review
20 directors’ report
24 remuneration committee report
30 corporate governance
32 statement of directors’ responsibilities
33 independent auditors’ report
34 consolidated profit and loss account
35 consolidated  and company balance sheets
36 statement of total recognised gains and losses
36 reconciliation of movements in total
shareholders’ funds
37 consolidated cash flow statement
38 notes to the financial statements
60 notice of meeting
64 secretary and advisers financial highlights
2 ricardo plc annual report  accounts 2002
five year performance record
1998 1999 2000 2001 2002
£’000 £’000 £’000 £’000 £’000
turnover 82368 95489 121107 139911 143178
turnover from continuing operations 78509 91003 117376 138370 143178
profit before taxation 8012 10425 12800 15107 16659
profit for the financial year 5362 7219 8923 10643 12061
total shareholders’ funds 26807 31378 37932 48131 55908
basic earnings per ordinary share 118p 155p 189p 222p 249p
dividends per ordinary share 66p 70p 74p 78p 86p
 the five year performance record has not been restated for the three years ended 30 june 2000 following the
adoption of frs19deferred tax
0
20
40
60
80
100
120
140
160
1998 1999 2001
785
910
1384
1432
0
2
4
6
8
10
12
14
16
18
80
104
128
151
167
249
0
5
10
15
20
25
118
155
189
2000
1174
2002 1998 1999 2001 2000 2002 1998 1999 2001 2000 2002
222
t urnover from continuing
operations £m
profit before taxation £m basic earnings per
ordinary share p


Summary:
 financial highlights
2 ricardo plc annual report  accounts 2002
five year performance record
1998 1999 2000 2001 2002
£’000 £’000 £’000 £’000 £’000
turnover 82368 95489 121107 139911 143178
turnover from continuing operations 78509 91003 117376 138370 143178
profit before taxation 8012 10425 12800 15107 16659
profit for the financial year 5362 7219 8923 10643 12061
total shareholders’ funds 26807 31378 37932 48131 55908
basic earnings per ordinary share 118p 155p 189p 222p 249p
dividends per ordinary share 66p 70p 74p 78p 86p
 the five year performance record has not been restated for the three years ended 30 june 2000 following the
adoption of frs19deferred tax
0
20
40
60
80
100
120
140
160
1998 1999 2001
785
910
1384
1432
0
2
4
6
8
10
12
14
16
18
80
104
128
151
167
249
0
5
10
15
20
25
118
155
189
2000
1174
2002 1998 1999 2001 2000 2002 1998 1999 2001 2000 2002
222
t urnover from continuing
operations £m
profit before taxation £m basic earnings per
ordinary share p