All-out luxury and fuel efficiency help Ricardo smooth out the bumps

"The super-rich are still super-rich," the boss of engineering consultancy Ricardo said today, adding that work on Bugatti's Veyron and McLaren's new supercar was helping the company bat off any fears of a downturn.

"We've started more supercar programmes in the last year than at any other point in our history," chief executive Dave Shemmans added. "We're as well positioned as any company can be for whatever the world throws at us - we're spread across many industries and geographies, and our work on cutting emissions is following global legislation trends."

Ricardo has won contracts helping companies ranging from car marques to builders and governments to become more fuel efficient. It has also ventured into defence, making a production line for the MoD's new Foxhound patrol vehicle.

Shemmans, who was part of David Cameron's recent trade delegation to China, added that the Government's push for an export-led recovery was helping it win contracts overseas. That work helped the engineer post a 43% vault in annual pre-tax profit to £15.4 million, on revenues that rose 21% to £196.5 million in the year to July.