2010 AGM Chairman's Statement and IMS

Released : 22 Jul 2010 10:30:02

RNS Number : 7467P
De La Rue PLC
22 July 2010

De La Rue plc

2010 AGM Chairman's Statement and Interim Management Statement

At De La Rue plc's Annual General Meeting ("AGM") being held today, the Chairman, Nicholas Brookes, will make the following statement which comprises
the Group's Interim Management Statement for the period from 28 March 2010, as required by the UK Listing Authority's Disclosure and Transparency Rules:


"As shareholders know the Group released a trading statement on Tuesday 20 July which was as follows:-


At the announcement of the Group's preliminary results in May, the Board expected Currency volumes for 2010/11 to be at similar levels to 2009/10 albeit
with lower margins and with a greater than normal weighting towards the second half.


However, quality and production irregularities at one of the Group's paper production facilities have very recently been brought to the Board's attention.

It is apparent that some paper production has failed to meet certain quality specifications. As a consequence the production and shipment of this
specification paper has been suspended whilst the circumstances are fully investigated. Subject to the outcome of that process and clarification of the company's
contractual position it is now expected that paper production and sales in 2010/11 will be materially lower than originally planned.


The full impact on the current year financial results and on the Group's prospects has yet to be determined. A further announcement will be made as soon as the
Board has been able to assess the financial and operational implications of these matters.


There is nothing further to add to this statement at this time.


First Quarter Trading


The Group's trading performance during the first quarter has been broadly in line with the Board's expectations. As expected, Currency volumes have been lower
than in the corresponding period last year. Security Products has traded satisfactorily while Cash Processing Solutions continues to make good progress in its
refocusing of the business. Identity Systems remains on schedule with the implementation of the UK Passport contract."


Dividend


Subject to shareholder approval at today's AGM, the previously announced final dividend for the year ended 27 March 2010 of 28.2p per ordinary share will
be paid on 5 August 2010 to shareholders on the register at the close of business on 9 July 2010.

-ends-

22 July 2010

For further information, please contact:

James Hussey

Chief Executive

+44 (0)1256 605000

Colin Child

Group Finance Director

+44 (0)1256 605000

Clare Lloyd Williams

Group Communications Manager

+44 (0)1256 605000

Andrew Lorenz

Financial Dynamics

+44 (0) 207 269 7291

Susanne Yule

Financial Dynamics

+44 (0) 207 269 7291


Notes to Editors


De La Rue is the world's largest commercial security printer and papermaker, involved in the production of over 150 national currencies and a wide range
of security documents such as passports, authentication labels and fiscal stamps. The company is a leading provider of cash sorting equipment and software
solutions to Central Banks, helping them to reduce the cost of handling cash. De La Rue also pioneers new technologies in government identity solutions
for national identification, driver's licence and passport issuing schemes. De La Rue employs approximately 4,000 people worldwide and is a member of the
FTSE 250.


For further information visit De La Rue's website at www.delarue.com


This information is provided by RNS
The company news service from the London Stock Exchange
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