REG - De La Rue PLC - AGM statement and trading update

De La RueAnnouncement

07/09/2023 07:00

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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 £20m range for the full year and broadly break even for
the first half year.  Net debt would rise to around £100m 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 (http://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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