Interim Management Statement

RNS Number : 9050L

De La Rue PLC

20 January 2009

 

Interim Management Statement

The Board of De La Rue plc today issues the following Interim Management Statement in respect of the period since 1 October 2008 as required by the UK Listing Authority's Disclosure and Transparency Rules.

Trading for the Group, during the third quarter of the year to 31 March 2009, has been in line with our previous expectations. Currency activities have remained strong with the order book having strengthened year on year. 

In Security Products, Identity Systems and Cash Processing Solutions, trading has remained in line with our expectations for the year and the order book in each of these businesses remains strong.

Operating cash flow from continuing activities has seen a significant reduction in the level of advance payments, reflecting the timing and mix of orders attracting such payments.  The Group would expect to end the year with modest net debt, following the return of cash to shareholders in November.

The strong Currency order book provides good visibility to the Group. Current Sterling exchange rates for the Dollar and the Euro, if maintained, are expected to benefit margins progressively throughout 2009/10 as the Group's existing hedging arrangements mature. Sales in these two currencies are anticipated to represent approximately 45 per cent of Currency full year sales in the current year.

The Board therefore remains confident in the trading outlook for the current year and believes the business is well-placed for the following year.

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-ends-

20 January 2009

For further information, please contact:

James Hussey	Chief Executive	[phone]
Stephen King	Finance Director	[phone]
Gary Williams	Head of Corporate Affairs	[phone]
Andrew Lorenz	Financial Dynamics	[phone]

Notes to Editors

1.	De La Rue will announce its Preliminary Results on 20 May 2009
2.	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 sorting equipment and software solutions to Central Banks, 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 4,000 people worldwide and is a member of the FTSE 250.
For further information visit De La Rue's website at www.delarue.com.

 

END

 

 

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