Pre Close Statement for Year

RNS Number : 3377P

De La Rue PLC

24 March 2009

 

Pre Close Statement for Year Ending 28 March 2009

Prior to De La Rue plc entering its close period for the year ending 28 March 2009, the Board issues the following trading update. The Company's full year results will be announced on 20 May 2009.

Trading for the Group during the final quarter of the year to 28 March 2009 has been in line with our expectations. 

The Currency activities have remained strong, with the continued strength of the order book providing good visibility. Levels of order coverage for 2009/10 are similar to those at this time last year.

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

As outlined in our IMS of 20 January, operating cashflow from continuing activities has seen a significant year on year reduction in advance payments, reflecting the timing and mix of orders attracting such payments. Underlying trade working capital has continued to track trading levels. The Group expects to end the year with modest net debt, in line with our previous expectations and remains confident in the underlying cash generation of the business.

The strong Currency order book, together with the anticipated progressive benefit throughout 2009/10 from the current Sterling exchange rates for the Dollar and the Euro, provides a solid platform for the year ahead.

-ends-

24 March 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

 

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