Bank note firm bang on money for prediction

Jan 31 2008 by Graeme King, The Journal

BANK note manufacturer De La Rue has reported that its operations are ‘bang on the money’ in following exactly what the company promised the City for the financial year.

The Hampshire company, with its biggest UK factory employing 180 staff in Gateshead, said the performance of both its security paper and print division, and the cash systems part of the business, were in line with expectations.

In November last year, De La Rue reported its first-half results which showed sales up 5.1% to £345.1m and profits 22.6% higher at £53.8m in the six months to September 29.

It said then it had been encouraged by order levels in both its divisions, with the banknote printing business expected to achieve a second-half performance significantly ahead of the same period a year earlier.

The De La Rue statement concluded: “The board remains confident in the group’s trading outlook and cash generation.”