Headlines
- Revenue up 64m to 528m, with strong performance in both the Currency and Solutions businesses
- Operating profit up 23m to 63m, due to improved trading, mix and initial benefits from the Improvement Plan
- Headline EPS up 81% to 43.5p
- Final dividend of 28.2p making a total of 42.3p for the year
- Strong operating cash inflow of 78m, net debt low at 25m
- Banknote print volumes up 8% to 6.4bn, paper volumes up 11% to 11,000 tonnes
- Year end order book up 14% to 248m
- Improvement Plan on track to achieve a target 2013/14 operating profit in excess of 100m
Nicholas Brookes, Chairman, commented:
"I am pleased to report that De La Rue has made excellent progress in the past financial year, achieving strong growth in revenue and profit. As I leave De La Rue, I am confident that, with a strong management team and a clear plan for improvement, the business is well placed for the future."
Tim Cobbold, Chief Executive, commented:
"De La Rue has made good progress in the first year of the Improvement Plan, demonstrating both the fundamental strengths of the business and its capacity to improve. While recognising there is still much to do, I am confident that with the momentum we have established, we are on track to achieve our target of a 2013/14 operating profit in excess of 100m.
With a good order book and a strong pipeline of opportunities, the Board's expectation for the current year remains unchanged."
