De La Rue plc has provided a pre-close trading update for the financial year ending 30 March 2024. The company expects adjusted operating profit for H1 FY24, which ended on 30 September 2023, to be marginally ahead of previous guidance. Net debt is expected to be improved compared to previous guidance, in the low £80 million range. For the full year FY24, the Board's expectations for adjusted operating profit remain unchanged, supported by the half-year position. Net debt for the full year FY24 is now expected to be marginally better than previous guidance, in the mid £90 million range. The company's interim results for the period to 30 September 2023 will be announced on 19 December 2023.
De La Rue is a trusted provider of digital and physical solutions that protect supply chains and cash cycles from counterfeiting and illicit trade. The company operates in five continents, serving customers in 140 countries. Its solutions include advanced track and trace software, security document design, banknotes, brand protection labels, tax stamps, security features, and passport bio-data pages. De La Rue focuses on authentication, leveraging digital software solutions and security labels to protect revenues and reputations from illicit trade, counterfeiting, and identity theft. It also specializes in currency, designing and manufacturing highly secure banknotes and components.
The company emphasizes its commitment to environmental, social, and governance (ESG) practices, evidenced by accolades such as ISO 14001 certification and a consistent ranking in the top tier of the Financial Times European Climate Leaders list. De La Rue's shares are traded on the London Stock Exchange (LSE: DLAR).
The forward-looking statements in the trading update caution that they are not guarantees or predictions of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors. The company advises readers not to place undue reliance on these forward-looking statements.