De La Rue PLC AGM Statement (8201G)
29 Julio 2021 - 1:00AM
UK Regulatory
TIDMDLAR
RNS Number : 8201G
De La Rue PLC
29 July 2021
29 July 2021
DE LA RUE PLC
2021 AGM STATEMENT
Strong momentum in both Currency and Authentication
divisions
Ahead of today's Annual General Meeting (AGM), De La Rue plc
("De La Rue" or "the Group") is providing an update on its
performance and progress.
Trading and outlook
The Board's expectations for 2021/22 remain unchanged and De La
Rue continues to be on track to deliver the second year of the
Turnaround Plan.
The cost reduction programme, amounting to GBP36m of cumulative
cost savings versus the 2019/20 cost base, will have a full year's
impact for the first time in 2021/22, including approximately GBP7
million incremental savings versus FY2020/21.
In Currency, De La Rue continues to experience strong demand and
is building an order book in line with its expectations for growth.
The mix of business is also positive. The programme to grow its
polymer substrate activity, including more than doubling production
capacity, is on track, and worldwide demand for the Group's
SAFEGUARD(R) polymer is developing in line with forecasts.
In Authentication, both the Government Revenue Solutions (GRS)
and the Group's Brand businesses are on track to meet expectations.
De La Rue has secured a further multi-year GRS award since the full
year results in May 2021, and the pipeline of contract
opportunities remains robust. Implementation of existing contracts
is in line with expectations, and recently won contracts will
contribute to growth in H2 of the current financial year.
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
Enquiries:
De La Rue plc +44 (0) 1256 605000
Clive Vacher Chief Executive Officer
Rob Harding Chief Financial Officer
Matthew Rose Director of Investor Relations
Kirstie Thomas Investor Relations Manager
Brunswick +44 (0)207 404 5959
Stuart Donnelly
Ed Brown
Cautionary note regarding forward-looking statements
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates",
"anticipates", "expects", "intends", "plans", "goal", "target",
"aim", "may", "will", "would", "could" or "should" or, in each
case, their negative or other variations or comparable terminology.
These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
announcement and include statements regarding the intentions,
beliefs or current expectations of the directors, De La Rue or the
Group concerning, amongst other things, the results of operations,
profitability, financial condition, liquidity, prospects, growth
and strategies of De La Rue and the industry in which it
operates.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future and may be
beyond De La Rue's ability to control or predict. Forward-looking
statements are not guarantees of future performance. The Group's
actual results of operations, profitability, financial condition,
liquidity, prospects, growth and/or strategy and the development of
the industry in which it operates may differ materially from the
impression created by the forward-looking statements contained in
this announcement. In addition, even if the results of operations,
profitability, financial condition, liquidity, prospects, growth
and/or strategy of the Group and the development of the industry in
which it operates are consistent with the forward-looking
statements contained in this announcement, those results or
developments may not be indicative of results or developments in
subsequent periods.
Other than in accordance with its legal or regulatory
obligations, De La Rue does not undertake any obligation to update
or revise publicly any forward-looking statement, whether as a
result of new information, future events or otherwise.
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END
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July 29, 2021 02:00 ET (06:00 GMT)
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