i'm buying on the blips

CEO resigns.

Ex-divi wed 2nd July (28.2p)

Rising quietly.

Nice chart.

Recent Broker recs :-

25 Jul 14 Numis Add 749.50 845.00 845.00 Upgrades

24 Jul 14 Investec Buy 749.50 915.00 915.00 Reiterates

New CEO

Aug 31: Numis: Add - TP held: 845p

Preferred bidder for new BoE 10-year contract

Sept 8: Investec; Buy - TP: 915p

Sept 18: Citigroup: Neutral - TP: 820p.

StockMarketWire.com
De La Rue (DLAR) has forecast that profits in the current financial year will be around £20m lower than those in 2013/2014.

As a result it has said it is looking to cut the dividend that will be paid.

It says that overall the Group's performance for the first half of the current financial year will be broadly in line with the Board's expectations at that time. However, trading conditions across the Group have deteriorated such that expectations for the current and next financial year are now lower. In the previous financial year underlying profit before tax was £77.3m but based on recent orders and current trends within both the currency and solutions divisions the Board expects the current difficult market conditions to continue into the 2015/2016 financial year.

The effect of the more recent pricing pressures together with certain contractual price reductions, which will come into effect in 2015/2016, on a number of long-term contracts will impact margins and profitability further.

In light of this more difficult trading environment the Board says it intends to reappraise the level of the company's dividend for the full year and expects to announce in November an interim dividend of 8.3p per share (2013/14: 14.1p).

Philip Rogerson Chairman said: "While disappointing to announce this trading update De La Rue, as the market leading banknote printer, remains a strong, profitable and cash generative business. We will continue to pursue efficiency gains, invest in the business and in R&D for the future."

Share price decimated .

Sept 26:
Investec: Hold - TP: 600p
Numis: Hold - TP: 540p
JP Morgan: Underweight - TP: 600p

HARRYCAT - FWIW, IMHO,
[DLAR] may recover as others have suggested, but the message appears to be a LT profit reduction with 2016 " . . . and probably further" - so I expect to see a gradual slide as the regular investors fall away. That's not to say there won't be a sp recovery - Markets will likely to bounce wildly - and who knows - a Bid might be rumoured!

10-year new contract with BoE signed

StockMarketWire.com
Banknote printer De La Rue's revenues and underlying profits fell in the six months to 27 September.

Revenues were down 8% at £214.9m while underlying operating and pre-tax profits fell by 31% and 37% to £26.6m and £20.6m respectively.

Reported pre-tax profits were down 36% at £18.1m.

Chairman Philip Rogerson, Chairman said: "While market conditions have resulted in lower revenues, we have partially mitigated the impact in the first half through cost savings from operational efficiencies and have commenced a further rationalisation of our manufacturing footprint.

"As previously announced, we expect the challenging trading conditions within the currency market to continue and this, together with lower than expected new business in our Solutions division, has impacted our outlook for 2014/15 and 2015/16.

"The Board continues to believe that, while current conditions are tough, De La Rue remains a strong, profitable and cash generative business in a market with good medium and long term growth prospects."

Nov 25: Investec : Add - TP: 560p

StockMarketWire.com
Banknote printer De La Rue reports that trading in the period since 27 September has been in line with revised expectations with all the forecast currency orders, for production and shipment in the current financial year, secured.

The board continues to expect that the group's operating profit for 2014-15 will, as previously announced, be approximately £20m lower than the underlying operating profit of £89.3m reported for 2013-14.

De La Rue also announced that group finance director Colin Child intends to stand down at the annual general meeting on 23 July. Head hunters will be appointed to commence a search for a new FD and assist the nomination committee to identify suitable internal and external candidates.

Chairman Philip Rogerson said: "On behalf of the Board and all his colleagues at De La Rue I would like to acknowledge and thank Colin for the very significant contribution he has made to the Company. During his five years with De La Rue Colin played an important role in the achievement of improvements to the business and took on additional responsibilities during periods of management change. He leaves with our very best wishes."

Jan 29:
Numis : Hold - TP: 540p
JP Morgan: Neutral - TP: 580p
Investec Add - TP: 560p

Greek saga giving DLAR a lift!

Time to roll these out again?

Are these from your private collection, skinny ...last one certainly
more attractive than any of our notes. DLAR waiting in the wings.