De La Rue in line with board's expectations
And it says that, as previously announced, financial results for 2012-13 are expected to be similar to the previous year.
The currency division is expected, based on customer shipment requirements, to produce c6.4bn banknotes and c9,000 tonnes of banknote paper for the financial year.
Order intake has been satisfactory with some of the delayed orders referred to in the November trading statement having been received though with others still to be confirmed.
As anticipated, the banknote paper market remains challenging, reflecting the introduction of additional capacity by other manufacturers, with continuing evidence of pricing pressure. De La Rue says the solutions division continues to trade satisfactorily.
And it says the 'improvement plan' is progressing well with the process improvement, procurement and facility optimisation programmes all on track to deliver their target savings. The board remains confident of delivering the 'improvement plan' which has a target 2013-14 operating profit in excess of Â£100m.
At 9:08am: [LON:DLAR] De La Rue share price was +29p at 931p
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