De La Rue PLC
19 March 2008
DE LA RUE PLC
PRE CLOSE STATEMENT
FOR THE YEAR ENDING 29 MARCH 2008
Prior to entering its close period for the year ending 29 March 2008, the Board
of De La Rue plc today issues the following trading update. The Company's full
year results are due to be announced on 22 May 2008.
Trading for the Group during the last quarter of the year has continued to be in
line with our prior expectations. Within Security Paper & Print, strong
banknote demand supported by productivity improvements has resulted in both year
on year revenue and margin improvement.
Within Cash Systems, both equipment and service volumes have remained in line
with our expectations, notwithstanding the more uncertain financial environment.
Modest revenue growth is anticipated for the year, despite a weakening US
dollar, whilst margin improvement has been achieved from ongoing improvements to
the supply chain.
Cashflow remains a key strength of the Group and will again demonstrate a good
level of operating cash conversion. Growth in trade working capital reflects
the high trading activity in the Currency operations together with the
anticipated reduction in advance payments, following the exceptional inflow in
2006/2007.
The Group order book has improved in both divisions compared with the prior
year, most particularly in the Currency activities. Visibility in the Security
Paper and Print Division has further improved for the next financial year and
the Board remains confident of the outlook for 2008/2009.
- ends -
19 March 2008
For further information please contact:
Stephen King Group Finance Director +44 (0) 1256 605307
Richard Mountain Financial Dynamics +44(0) 207 269 7291
Isabella Szredzki Corporate Affairs +44 (0) 1256 605308
Notes to Editors:
De La Rue is the world's largest commercial security printer and papermaker,
involved in the production of over 150 national currencies and a wide range of
security documents such as passports, authentication labels and fiscal stamps.
The Company is a leading provider of cash handling equipment and software
solutions to banks and retailers worldwide, helping them to reduce the cost of
handling cash. De La Rue also pioneers new technologies in government identity
solutions for national identification, driver's licence and passport issuing
schemes.
De La Rue employs over 6,000 people across 31 countries and is a member of the
FTSE 250.
Its ordinary shares are listed with the UK Listing Authority and trade on the
market for listed securities on the London Stock Exchange under the symbol DLAR.
For further information visit De La Rue's website at www.delarue.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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