De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") will hold its annual general meeting at 10:00am this morning at De La Rue House, Jays Close, Viables, Basingstoke.
Ahead of that meeting De La Rue confirms, given the current trading experience of both Currency and Authentication divisions, that adjusted operating profit guidance for the half and full year of FY24 remains unchanged from that set out* at the time of our full year results announcement made on 29 June. In addition we expect our net debt levels at full and half year to be in line with that set out on 29 June.
As previously announced, Margaret Rice-Jones will be retiring from the Board at today’s annual general meeting. The Board thanks her for her invaluable contribution and wishes her well with her future endeavours.
Further to her retirement, and as previously announced, we are welcoming Brian Small to the Board on 8 September 2023. He will take over Margaret’s role as Chair of the Remuneration Committee, as well as joining the Audit, Ethics and Nominations Committees.
Margaret’s role as Senior independent Director will be taken over by Nick Bray as he relinquishes his role of Audit Committee Chair to Mark Hoad.
* That guidance was that full year adjusted operating profit for the Group would be in the low £20m range for the full year and broadly break even for the first half year. Net debt would rise to around £100m at both half and full year.
