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De La Rue PLC - Bakingstoke, Hampshire-based banknotes and tax stamp printing specialist - Says second year of turnaround plan on track and business set to meet internal expectations. Has GBP36 million cumulative cost savings and GBP7 million incremental savings for 2021, expects full year impact in 2022. Preparing for expected growth by building order book and focusing on specialist polymers, says global demand as anticipated.
Notes "strong momentum" in currency and authentication divisions. "De La Rue has secured a further multi-year GRS award since the full year results in May 2021, and the pipeline of contract opportunities remains robust. Implementation of existing contracts is in line with expectations, and recently won contracts will contribute to growth in H2 of the current financial year," says De La Rue.
Current stock price: 177.80 pence
Year-to-date change: up 5.2%
By Josie O'Brien; josieobrien@alliancenews.com
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