2015 AGM Chairman's Statement

RNS Number : 8298T

De La Rue PLC

23 July 2015

 

2015 AGM CHAIRMAN'S STATEMENT

At De La Rue plc's Annual General Meeting ("AGM") being held today, the Chairman, Philip Rogerson, will make the following statement in respect of the period 29 March 2015 to today's date.

First Quarter Trading

The Group's trading for the period has been satisfactory and in line with the Board's expectations and the Group's order book has increased substantially since the year end.

In Currency, although market conditions remain challenging, we have been successful in securing and confirming a number of important orders.  At this early stage of the financial year over 90 per cent of the orders required to assure the sales and production targets for 2015/16 are confirmed. We also have an encouraging pipeline of orders for delivery in the next financial year.

Identity Systems and Security Products have traded in line with our expectations, but Cash Processing Solutions has experienced difficult trading conditions.

Dividend

Subject to shareholder approval at today's AGM, the proposed final dividend for the period ended 28 March 2015 of 16.7p per share will be paid on 3 August 2015 to shareholders on the register at the close of business on 3 July 2015.

Outlook

Based on current production and shipment schedules agreed with customers we expect the financial performance of the Group to have a higher than usual weighting towards the second half of the 2015/16 financial year.  This is particularly the case within Currency where approximately 70 per cent of the year's production is scheduled to be shipped in the second half.

With the satisfactory performance in the first quarter and the Group's strong order book the Board's overall expectations for 2015/16 remain unchanged.

ENDS

Enquiries:

De La Rue plc                                               [phone]

Philip Rogerson, Chairman

Martin Sutherland, Chief Executive Officer

Colin Child, Chief Financial Officer

Brunswick                                                      [phone]

Jon Coles

Oliver Hughes

NOTES FOR 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.

As the world's largest commercial banknote printer, De La Rue 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 (LON:DLAR).

www.delarue.com

 

END

 

 

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