26th Jul 2007 09:07
De La Rue PLC26 July 2007 DE LA RUE PLC 2007 AGM CHAIRMAN'S STATEMENT AND INTERIM MANAGEMENT STATEMENT At De La Rue plc's Annual General Meeting (AGM) being held today, the Chairman,Nicholas Brookes, will make the following statement, which comprises the Group'sfirst Interim Management Statement, in respect of the period 1 April 2007 to 30June 2007, as required by the UK Listing Authority's Disclosure and TransparencyRules: ''Trading for the first quarter of the financial year has been in line with ourexpectations, with a strong performance in Security Paper and Print, wherecontinued high levels of demand in the banknote and paper business, and inparticular overspill markets, have combined with a favourable trading mix. "In Cash Systems, despite the expected increase in competitive activity and theweakness of the US$, revenues were broadly in line with the corresponding periodlast year. "Overall, with the benefit of De La Rue's continuing productivity programme,Group margins in the first quarter were in line with our expectations and thecash balance remains strong. "Subject to shareholder approval at today's AGM, the previously announcedSpecial Dividend of 46.5p per ordinary share will be paid on 3 August 2007 toshareholders on the register at the close of business on 27 July 2007. Followingthe share consolidation accompanying the Special Dividend, which will beeffective at the opening of business on 30 July 2007, approximately 150 millionordinary shares will be in issue. "We enter the second quarter with a strong order backlog in both operatingdivisions which continues to provide a solid platform for the current financialyear." -ends- For further information, please contact: Leo Quinn Chief Executive +44 (0)1256 605303Stephen King Finance Director +44 (0)1256 605303Mark Fearon Head of Corporate Affairs +44 (0)1256 605303Richard Mountain Financial Dynamics +44 (0) 207 269 7121 26 July 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
De La Rue