TIDMDLAR
RNS Number : 6344L
De La Rue PLC
07 September 2023
7 September 2023
De La Rue plc
AGM statement and trading update
De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the
"Company") will hold its annual general meeting at 10:00am this
morning at De La Rue House, Jays Close, Viables, Basingstoke.
Ahead of that meeting De La Rue confirms, given the current
trading experience of both Currency and Authentication divisions,
that adjusted operating profit guidance for the half and full year
of FY24 remains unchanged from that set out* at the time of our
full year results announcement made on 29 June. In addition we
expect our net debt levels at full and half year to be in line with
that set out on 29 June.
As previously announced, Margaret Rice-Jones will be retiring
from the Board at today's annual general meeting. The Board thanks
her for her invaluable contribution and wishes her well with her
future endeavours.
Further to her retirement, and as previously announced, we are
welcoming Brian Small to the Board on 8 September 2023. He will
take over Margaret's role as Chair of the Remuneration Committee,
as well as joining the Audit, Ethics and Nominations
Committees.
Margaret's role as Senior independent Director will be taken
over by Nick Bray as he relinquishes his role of Audit Committee
Chair to Mark Hoad.
* That guidance was that full year adjusted operating profit for
the Group would be in the low GBP20m range for the full year and
broadly break even for the first half year. Net debt would rise to
around GBP100m at both half and full year.
Enquiries
De La Rue plc +44 (0)7990 337707
Clive Whiley Chairman
Clive Vacher CEO
Louise Rich Head of Investor Relations
Brunswick +44 (0)207 404 5959
Stuart Donnelly
Ed Brown
About De La Rue
De La Rue plc's purpose is to secure trust between people,
businesses and governments. As a trusted partner of governments,
central banks and commercial organisations seeking to secure their
global supply chains and cash cycles, De La Rue provides highly
secure physical and digital solutions that underpin the integrity
of economies and trade.
De La Rue's Currency division provides market-leading end-to-end
currency solutions, from finished banknotes to secure polymer
substrate and banknote security features to over half the central
banks and issuing authorities around the world.
Our Authentication division protects revenues and reputations
through the provision of physical and digital solutions to
governments and commercial organisations. We also manufacture ID
security components.
At 25 March 2023, De La Rue had over 1,800 employees who work
with organisations in more than 140 countries, leveraging the
group's manufacturing facilities in the UK, US, Malta and Sri
Lanka.
De La Rue's shares are traded on the London Stock Exchange
(LSE:DLAR). De La Rue plc's LEI code is 213800DH741LZWIJXP78.
For further information please visit www.delarue.com
Cautionary note regarding forward-looking statements
Certain statements contained in this document relate to the
future and constitute 'forward-looking statements'. These
forward-looking statements include all matters that are not
historical facts. In some case, these forward-looking statements
can be identified by the use of forward-looking terminology,
including the terms "believes", "estimates", "anticipates",
"expects", "intends", "plans", "may", "will", "could", "shall",
"risk", "aims", "predicts", "continues", "assumes", "positioned" or
"should" or, in each case, their negative or other variations or
comparable terminology. They appear in a number of places
throughout this document and include statements regarding the
intentions, beliefs or current expectations of the Directors, De La
Rue or the Group concerning, amongst other things, the results of
operations, financial condition, liquidity, prospects, growth,
strategies and dividend policy of De La Rue and the industry in
which it operates.
By their nature, forward-looking statements are not guarantees
or predictions of future performance and involve known and unknown
risks, uncertainties, assumptions and other factors, many of which
are beyond the Group's control, and which may cause the Group's
actual results of operations, financial condition, liquidity,
dividend policy and the development of the industry and business
sectors in which the Group operates to differ materially from those
suggested by the forward-looking statements contained in this
document. In addition, even if the Group's actual results of
operations, financial condition and the development of the business
sectors in which it operates are consistent with the
forward-looking statements contained in this document, those
results or developments may not be indicative of results or
developments in subsequent periods.
Past performance cannot be relied upon as a guide to future
performance and should not be taken as a representation or
assurance that trends or activities underlying past performance
will continue in the future. Accordingly, readers of this documents
are cautioned not to place undue reliance on these forward-looking
statements.
Other than as required by English law, none of the Company, its
Directors, officers, advisers or any other person gives any
representation, assurance or guarantee that the occurrence of the
events expressed or implied in any forward-looking statements in
this document will actually occur, in part or in whole.
Additionally, statements of the intentions of the Board and/or
Directors reflect the present intentions of the Board and/or
Directors, respectively, as at the date of this document, and may
be subject to change as the composition of the Company's Board of
Directors alters, or as circumstances require.
The forward-looking statements contained in this document speak
only as at the date of this document. Except as required by the
UK's Financial Conduct Authority, the London Stock Exchange or
applicable law (including as may be required by the UK Listing
Rules and/or the Disclosure Guidance and Transparency Rules), De La
Rue expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained in this document to reflect any change in the Group's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
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END
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September 07, 2023 02:00 ET (06:00 GMT)
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