23rd Jul 2015 07:09
LONDON (Alliance News) - Banknote printer De La Rue PLC on Thursday said its trading in the first quarter of its financial year has been satisfactory and in line with its expectations.
The company, which was relegated from the FTSE 250 in the most recent quarterly review, said that while market conditions remain challenging in its currency division, it has secured a number of important orders. De La Rue said 90% of the orders needed to secure its expected revenue for the current financial year is secured and is has an encouraging pipeline in place.
Its identity systems and security products business are both trading in line.
De La Rue said its expectations for the full year are unchanged, though it said its financial performance will be more weighted to the second half than is normally the case.
Shares in De La Rue were up 3.2% to 516.00 pence after the open on Thursday, one of the best performers in the FTSE All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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