De La Rue backs full-year outlook
Banknote printer De La Rue backed its full-year outlook on Tuesday as it said its performance remains in line with the board’s expectations.
In an update for the six months to 25 September, the company said trading in both its Currency and Authentication divisions was positive in the first half, with the turnaround plan and cost reduction activities continuing to strengthen performance.
"The outlook for the financial year 2021/22 continues to be in line with the board's expectations," it said.
Net debt at the half year was lower than expected, and less than at the end of 2020/21. De La Rue put this down to the phasing of capital expenditure and strong cash collections. The outlook for full-year net debt is also in line with the board's expectations, it said.
The company’s results for the six months ended 25 September are due 24 November.