Ricardo plc Period End 30 June 2007

Ricardo Annual Report 2007

Government grants excluded from revenue

UK automotive consultancy Ricardo relocates £1.1 million income from government grants, representing 9% of profit, from revenue to cost of sales. This brings to light non-compliance with IFRS disclosure requirements in the previous year.

Little to fear from updated mortality tables

UK automotive consultancy Ricardo discloses that it has changed the mortality tables it uses to quantify its pension deficit to 2000 tables, but with little effect.