DLAR De La Rue Plc

TIDMDLAR

RNS Number : 9963U

De La Rue PLC

13 April 2016

De La Rue plc

Trading Update

13 April 2016

De La Rue plc ("De La Rue" or "the Group") today announces its trading update for the six months and the full year ended 26 March 2016.

Full year revenue for the Group has been broadly in line with expectations. Full year underlying operating profit is now anticipated to be around GBP62m which is above previous expectations. This higher level of operating profit has been driven mainly by strong operational outperformance on certain contracts within our Currency business. Identity Solutions and Product Authentication and Traceability (PA&T, formerly Security Products) have been trading broadly in line with expectations.

Net debt at 26 March 2016 was GBP5m lower than at the end of the prior year at GBP106m.

Taking into account the above outperformance in the second half of 2015/16 the Board's expectations for 2016/17 remain unchanged.

The Group will issue its 2015/16 full year results at 7am BST Tuesday 24 May 2016. Analyst presentation and conference call details will be provided two weeks prior to the announcement.

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Enquiries:

 
 De La Rue plc                                      +44 (0)1256 605000 
 Martin Sutherland    Chief Executive Officer 
 Jitesh Sodha         Chief Financial Officer 
 Lili Huang           Head of Investor Relations 
 
 Brunswick                                          +44 (0)207 404 5959 
 Jon Coles 
 Oliver Hughes 
 

Notes to editors

 
 De La Rue is a leading commercial banknote printer, security 
  paper maker and provider of security products and software solutions 
  and, as a trusted partner of governments, central banks and 
  commercial organisations around the world, is at the forefront 
  of the battle against the counterfeiter. 
 
  De La Rue, as the world's largest commercial banknote printer, 
  provides customers with a fully integrated range of sophisticated 
  products and services which are available either individually 
  or as a whole. This includes a leading design capability, production 
  of innovative security components, manufacture of security paper 
  and polymer substrates and sophisticated printing of banknotes, 
  all contributing to trust in the integrity of currencies. 
 
  De La Rue is the world's largest commercial passport manufacturer 
  in an environment of increasing global concern over security 
  at national boundaries and border control. De La Rue also produces 
  a wide range of other security products, including tax stamps 
  for governments who are seeking to combat illicit trade and 
  collect excise duties. Other products include authentication 
  labels, assuring purchasers of product validity, and government 
  identity documents. In addition the Group manufactures high 
  speed cash sorting and banknote inspection equipment. 
 
  De La Rue also provides a range of specialist services and software 
  solutions including government identity schemes, product authentication 
  systems and cash management processing solutions. 
 
  De La Rue is listed on the London Stock Exchange (LSE:DLAR). 
  For further information visit www.delarue.com 
 
  Cautionary note regarding forward-looking statements 
 
  These results include statements that are, or may be deemed 
  to be, "forward-looking statements". These forward-looking statements 
  can be identified by the use of forward-looking terminology, 
  including the terms "believes", "estimates", "anticipates", 
  "expects", "intends", "plans", "goal", "target", "aim", "may", 
  "will", "would", "could" or "should" or, in each case, their 
  negative or other variations or comparable terminology. These 
  forward-looking statements include all matters that are not 
  historical facts. They appear in a number of places throughout 
  these results and the information incorporated by reference 
  into these results and include statements regarding the intentions, 
  beliefs or current expectations of the directors, De La Rue 
  or the Group concerning, amongst other things, the results of 
  operations, financial condition, liquidity, prospects, growth, 
  strategies and dividend policy of De La Rue and the industry 
  in which it operates. 
 
  By their nature, forward-looking statements involve risks and 
  uncertainties because they relate to events and depend on circumstances 
  that may or may not occur in the future and may be beyond De 
  La Rue's ability to control or predict. Forward-looking statements 
  are not guarantees of future performance. The Group's actual 
  results of operations, financial condition, liquidity, dividend 
  policy and the development of the industry in which it operates 
  may differ materially from the impression created by the forward-looking 
  statements contained in these results and/or the information 
  incorporated by reference into these results. In addition, even 
  if the results of operations, financial condition, liquidity 
  and dividend policy of the Group and the development of the 
  industry in which it operates, are consistent with the forward-looking 
  statements contained in these results and/or the information 
  incorporated by reference into these results, those results 
  or developments may not be indicative of results or developments 
  in subsequent periods. 
 
  Other than in accordance with its legal or regulatory obligations, 
  De La Rue does not undertake any obligation to update or revise 
  publicly any forward-looking statement, whether as a result 
  of new information, future events or otherwise. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 13, 2016 02:00 ET (06:00 GMT)

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