De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") today announces a trading update for the financial year ending 30 March 2024.
For H1 FY24, which ended 30 September 2023, the Company expects adjusted operating profit to be marginally ahead of previous guidance* given at the time of our full year results announcement on 29 June and reconfirmed at our AGM in September. Net debt is expected to be improved versus previous guidance, in the low £80m range.
For the full year FY24, the Board’s expectations for adjusted operating profit remain unchanged, reinforced by the half year position. Net debt for full year FY24 is now expected to be marginally better than previous guidance, in the mid £90m range.
The Company’s interim results for the period to 30 September 2023 will be announced on 19 December 2023.
* 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.