23rd Sep 2005 07:00
De La Rue PLC23 September 2005 DE LA RUE PLC PRE CLOSE PERIOD TRADING UPDATE Prior to entering its close period for the half year ending 24 September 2005,the Board of De La Rue issues the following trading update: Trading during the first half has been good, benefiting from a high openingorder book within the Security Paper and Print division, earlier thananticipated benefits from cost saving initiatives in Cash Systems and theelimination of losses from the discontinued activities of Sequoia Voting Systems(2004/2005 : first half loss of £2.7m). Accordingly, and on an IFRS adjustedbasis, the Board expects first half underlying results to be modestly ahead oflast year. As previously announced, trading in the second half is not expected to benefitfrom the high levels of banknote overspill and favourable customer mixexperienced in the second half of 2004/2005. Accordingly, the Board'sexpectations for the year as a whole remain unchanged. -ends- For further information please contact: Stephen King Group Finance Director +44 (0) 1256 605307Mark Fearon Head of Corporate Affairs +44 (0) 1256 605303Richard Mountain Financial Dynamics +44 (0) 207 269 7291 Notes to Editors: 1. On 13 July 2005, De La Rue published the estimated impact of the transition to International Financial Reporting Standards (IFRS) on its consolidated financial statements. Headline profit before tax for the half year to 25 September 2004 under IFRS was £26.1m. The main adjustments from the previously reported figure under UK GAAP of £25.8m were in relation to tax on associate company profits, pensions, goodwill, development expenditure and share-based payments. UK GAAP Share-based Employee Development Reclassification - Other IFRS payments benefits assets associate tax £m £m £m £m £m £m £mProfit before tax,exceptional 25.8 (0.6) 1.3 0.7 (1.3) 0.2 26.1items andgoodwillamortisation 2. De La Rue will announce its interim results on 29 November 2005. 3. De La Rue is the world's largest commercial security printer and papermaker, involved in the production of over 150 national currencies and a wide range of security documents such as passports, fiscal stamps, travellers cheques and authentication labels. The Company is a leading provider of cash handling equipment and software solutions to banks and retailers worldwide, helping them to reduce the cost of handling cash. De La Rue employs over 6,200 people across 31 countries and has an ongoing turnover of approximately £620m. De La Rue is a member of the FTSE 250. Its ordinary shares are listed with the UK Listing Authority and trade on the market for listed securities on the London Stock Exchange under the symbol DLAR. For further information visit De La Rue's website at www.delarue.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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