Last checked at 21 Jul 2011 07:00
De La Rue plc
2011 AGM Chairman's Statement and
Interim Management Statement
At De La Rue plc's Annual General Meeting ("AGM") being held today, the Chairman, Nicholas Brookes, will make the following statement which comprises the Group's Interim Management Statement for the period from 27 March 2011, as required by the UK Listing Authority's Disclosure and Transparency Rules:
First Quarter Trading
"The Group's trading performance during the period was satisfactory and in line with the Board's expectations. In the Currency Division, print volumes were higher than in the corresponding period last year whilst paper volumes were, as expected, lower. In the Solutions Division, Identity Systems performed strongly, reflecting a full quarter of the UK Passport contract and Cash Processing Solutions traded well. Market conditions for Security Products remain challenging.
Good progress is being made with the implementation of the Improvement Plan announced at the end of May which has a target of achieving an operating profit in excess of £100m within three years. An update will be provided with the half year results.
Dividend
Subject to shareholder approval at today's AGM, the previously announced final dividend for the year ended 26 March 2011 of 28.2p per ordinary share will be paid on 4 August 2011 to shareholders on the register at the close of business on 8 July 2011.
Outlook
The Board remains confident in the trading outlook for the full year."
-ends-
21 July 2011
For enquiries, please contact:
Tim Cobbold | Chief Executive | +44 (0)1256 605000 |
Colin Child | Group Finance Director | +44 (0)1256 605000 |
Clare Lloyd Williams | Group Communications Manager | +44 (0)1256 605000 |
Jon Coles/Kate Holgate | Brunswick | +44 (0) 20 7404 5959 |
Notes to Editors
As the world's largest integrated commercial security printer and papermaker, De La Rue is a trusted partner of governments, central banks, issuing authorities and commercial organisations around the world.
The Group is involved in the design and production of over 150 national currencies and a wide range of security documents including passports, driving licences, authentication labels and tax stamps. In addition, the Group manufactures sophisticated, high speed, cash sorting equipment.
De La Rue also offers a range of specialist services and software solutions including government identity schemes, product authentication systems and cash management processing solutions. De La Rue employs approximately 4,000 people worldwide and is listed on the London Stock Exchange.
For further information visit De La Rue's website at www.delarue.com