Last checked at 1 Feb 2013 07:00
Interim Management Statement
De La Rue plc today issues the following Interim Management Statement for the period from 30 September 2012 to date.
Trading for the period has been in line with the Board's expectations. As previously announced the financial results for 2012/13 are expected to be similar to those for 2011/12.
The Currency Division is expected, based on customer shipment requirements, to produce c6.4bn banknotes and c9,000 tonnes of banknote paper for the financial year. Order intake has been satisfactory with some of the delayed orders referred to in the November Trading Statement having been received though with others still to be confirmed. As anticipated the banknote paper market remains challenging, reflecting the introduction of additional capacity by other manufacturers, with continuing evidence of pricing pressure.
The Solutions Division continues to trade satisfactorily.
The Improvement Plan is progressing well with the process improvement, procurement and facility optimisation programmes all on track to deliver their target savings.
The Board remains confident of delivering the Improvement Plan which has a target 2013/14 operating profit in excess of £100m.
-ends-
1 February 2013
Enquiries: | ||
De La Rue plc | +44 (0)1256 605000 | |
Tim Cobbold | Chief Executive | |
Colin Child | Group Finance Director | |
Rob Hutchison | Group Director of Communications |
|
Brunswick | +44 (0)207 404 5959 | |
Jon Coles | ||
Zoe Bird |
NOTES TO EDITORS |
As the world's largest integrated commercial banknote printer, De La Rue is a trusted partner of governments, central banks, issuing authorities and commercial organisations around the world.
The Group has in recent years been involved in the design or production of over 150 national currencies. De La Rue also produces 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 and inspection 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 |