De La Rue PLC
19 September 2007
DE LA RUE PLC
PRE CLOSE STATEMENT
FOR SIX MONTHS TO 29 SEPTEMBER 2007
Prior to entering its close period for the six months to 29 September 2007 De La
Rue issues the following trading update. The Company's interim results are due
to be announced on 27 November 2007.
The performance for the first half year has been in line with our expectations.
In Security Print and Paper, a strong opening order book with high overspill
content and continuing exceptional levels of banknote demand in the first half
has supported both year on year revenue and margin improvement. Order visibility
beyond the current year has improved.
In Cash Systems, notwithstanding the impact on revenue growth of the weakening
US dollar and a continuing competitive market, first half operating performance
has remained in line with our expectations, with margin improvement supported by
ongoing supply chain cost reductions and operational efficiencies.
Advance payments have remained at historically high levels in the first half
year, although these are expected to reduce to more normal levels by the year
end. We remain confident in the Group's cash generation for the year as a whole.
De La Rue was pleased to note that during the period Camelot plc was named as
the preferred bidder for the third lottery licence which will run from 2009 to
2019.
Overall, we enter the second half year with good order backlog in both operating
divisions which continues to provide a solid platform for the current financial
year. We expect the weighting between the first and second half trading to be
less pronounced than in previous years.
-ends-
For further information, please contact:
Leo Quinn Chief Executive +44 (0)1256 605303
Stephen King Finance Director +44 (0)1256 605307
Mark Fearon Head of Corporate Affairs +44 (0)1256 605303
Richard Mountain Financial Dynamics +44 (0)207 269 7121
19 September 2007
Notes to Editors:
1. De La Rue has a 20% shareholding in Camelot plc.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.