13th Apr 2016 06:37
LONDON (Alliance News) - Banknote printer De La Rue PLC on Wednesday said it expects to report full-year underlying operating profit ahead of previous expectations, driven mainly by "strong operational outperformance" on contracts within its currency business.
In a statement, De La Rue said it expects to report an underlying operating profit of about GBP62 million in the year ended March 26, which is lower than the GBP69.5 million reported in the corresponding period to March 28, 2015.
Full-year revenue has been "broadly in line" with expectations, the company said.
Taking into account the above outperformance in the second half of the financial year ended March 26, De La Rue said its expectations for the current financial year ending in 2017 remain unchanged.
De la Rue said its net debt as of March 26 was GBP5 million lower than at the end of the prior year, at GBP106 million.
De La Rue said it will report its full-year results on Tuesday May 24.
By Samuel Agini; [email protected]; @samuelagini
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