2013 AGM Chairman's Statement and IMS

RNS Number : 0914K

De La Rue PLC

25 July 2013

 

2013 AGM Chairman's Statement and

Interim Management Statement

At De La Rue plc's Annual General Meeting ("AGM") being held today, the Chairman, Philip Rogerson, will make the following statement which comprises the Group's Interim Management Statement for the period from 31 March 2013 to today's date:

First Quarter Trading

"Trading for the period has been in line with the Board's expectations.

In Currency, while the market conditions, particularly in paper, remain challenging order intake in the period has been good with important orders booked for delivery in both the current and subsequent financial year. We expect performance for the current financial year to reflect the usual weighting towards the second half.

In Solutions, trading was in line with our expectations.

We continue to make good progress in delivering the £40m target annual cost reductions in the Improvement Plan which were referred to in the most recent results announcement.

The Group's 12 month order book at the end of first quarter was £242m (£207m at 30 March 2013).

Dividend 

Subject to shareholder approval at today's AGM, the proposed final dividend for the period ended 30 March 2013 of 28.2p per ordinary share will be paid on 1 August 2013 to shareholders on the register at the close of business on 5 July 2013.   

Outlook

First quarter performance has been satisfactory with good progress in delivering the higher £40m target annual cost reductions.  This, together with the increased order book and a strong pipeline of order opportunities, which must of course be secured for delivery in the current year, supports the Board's expectations for the full year."

- ends -

25 July 2013

For enquiries, please contact:

De La Rue plc		[phone]
Tim Cobbold	Chief Executive
Colin Child	Group Finance Director
Rob Hutchison	Group Director of Communications
Brunswick		[phone]
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

 

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