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De La Rue upgrades profit outlook amid ongoing momentum
StockMarketWire.com
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Banknote printer De La Rue upgraded its outlook on profit amid ongoing positive performance.
The company said it expected adjusted operating profit for the financial year 2020/21 to be around the top end of the £36 million to £37 million range previously indicated in the company's trading update of 28 January 2021.
Net debt stood at approximately £53 million at year-end, which was lower than market expectations by approximately £21 million, thanks to lower capital expenditure during the year.
The company said the annual results would include non-cash exceptional asset impairment and accelerated depreciation charges of approximately £13 million on historic assets, as a result of the closure of the Gateshead banknote printing operations in December 2020.
De La Rue expects to announce its results for the full year ended 27 March 2021 on 26 May 2021.
At 9:07am: (LON:DLAR) De La Rue PLC share price was 0p at 158.6p
Story provided by StockMarketWire.com
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