Last checked at 31 Jan 2014 07:00
De La Rue plc
Interim Management Statement
De La Rue plc today issues the following Interim Management Statement for the period from 29 September 2013 to date.
Trading for the period has been as anticipated and accordingly the Board continues to expect that the Group's operating profit for 2013/14 (before IAS 19 adjustments) will be c£90m, as announced previously.
The Currency Division is expected, subject to customer shipment instructions, to report sales for 2013/14 of c6.6bn banknotes and c10,000 tonnes of banknote paper. The pricing environment in the printed banknote and paper markets remains challenging, reflecting the previously reported overcapacity in the banknote paper market.
Overall, the Solutions Division continues to trade satisfactorily with a strong performance from Identity Systems. The performance of Cash Processing Solutions remains disappointing but good progress has been made on its cost reduction programme towards the target of achieving break even in 2014/15.
The Board expects the Group to enter the 2014/15 financial year with a good order book.
End
31 January 2014
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 | ||
Oliver Hughes |
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