31st Mar 2020 11:18
(Alliance News) - Bank note printer De La Rue PLC on Tuesday said adjusted operating profit for financial 2020 will be in line with previous estimates and that it is too early to quantify effects of Covid-19 on financial 2021.
The company also said that it is making progress with its turnaround plan and has operated within banking covenants for the financial year, which ended on Friday.
De La Rue expects adjusted operating profit for financial 2020 to be between GBP20 million and GBP25 million versus GBP60.1 million recorded in financial 2019. Net debt at year-end is expected to be GBP105 million.
Shares in De La Rue were up 6.7% at 57.30 pence each in London on Tuesday morning.
By Tapan Panchal; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
De La Rue