StockMarketWire.com - Banknote printer De La Rue touted positive performance in its currency and authentication divisions in the first half of the year as its turnaround plan continues to strengthen operations.

'[O]ur turnaround plan and cost reduction activities continuing to strengthen the company's performance versus the similar period in financial years 2019/20 and 2020/21,' the company said.

Net debt at the half year was lower than expected, and less than at the end of the financial year 2020/21.

'This was as a result of both the phasing of capital expenditure and strong cash collections. The outlook for net debt for the full year is in line with the Board's expectations,' it added.

Looking ahead, the company said the outlook for the financial year 2021/22 continued to be in line with the board's expectations.

De La Rue expected to announce its results for the six months ended 25 September 2021 on 24 November 2021.



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