Last $7.67 USD
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As of 8:10 PM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

de la rue plc (DELRF) Key Developments

De La Rue plc Announces Interim Dividend for the Half Year Ended 27 September 2014, Payable on 7 January 2015

De La Rue plc announced interim dividend of 8.3 pence has been declared for the half year ended 27 September 2014 compared to 14.1 pence a year ago. This will be paid on 7 January 2015 to shareholders on the register on 5 December 2014.

De La Rue plc Reports Unaudited Consolidated Earnings Results for the Half Year Ended September 27, 2014; Reaffirms Earnings Guidance for the Fiscal Year 2015

De La Rue plc reported unaudited consolidated earnings results for the half year ended September 27, 2014. For the half year, the company reported revenues of £214.9 million against £234.0 million a year ago. Operating profit was £24.1 million against £34.1 million a year ago. Profit before taxation was £18.1 million against £28.4 million a year ago. Profit attributable to equity shareholders of the company of £13.6 million or 13.4 pence per diluted share compared to £21.9 million or 47.0 pence per diluted share a year ago. Net cash flows from operating activities were £9.5 million compared £40.3 million a year ago. Purchases of property, plant and equipment and software intangibles were £13.1 million compared to £20.4 million a year ago. Underlying operating cash flow, comprising underlying operating profit adjusted for depreciation and the movement in working capital, was £25.4 million against £49.4 million a year ago. This represents a cash conversion ratio of 95% against 128% a year ago. Net debt at September 27, 2014 was £126.8 million up £36.9 million since the year end mainly due to payment of the 2013/14 final dividend and increased working capital, primarily higher levels of raw materials and work in progress. Underlying operating profit decreased by 31% to £26.6 million against £38.5 million a year ago, reflecting pricing pressures and the impact of lower volumes. Underlying profit before tax fell by 37% to £20.6 million against £32.8 million a year ago and consequently, underlying earnings per share decreased by 38% to 15.9 pence against 25.7 pence a year ago. As previously announced, the Board expects that the current fiscal year 2015 underlying operating profit will, as a result of the difficult trading conditions, be approximately £20 million lower than that reported for 2013/14. These difficult market conditions are anticipated to continue into the next financial year and together with certain contractual price reductions on a number of long term contracts, which will come into effect in 2015/16, will impact margins and profitability as previously stated.

De La Rue plc, H1 2015 Earnings Call, Nov 25, 2014

De La Rue plc, H1 2015 Earnings Call, Nov 25, 2014

Bank of England Selects De La Rue to Print Banknotes

Bank of England has selected De La Rue plc as a preferred bidder for the 10-year contract to print banknotes, which is due to commence in April 2015. De La Rue will cooperate fully with the Bank over the weeks ahead to ensure that it conforms to all of the Bank's due diligence checks, ahead of the contract being awarded.

De La Rue plc Provides Earnings Guidance for the Year 2014

De La Rue plc announced that the board expects that for the current year 2014 both underlying operating profit and underlying profit before tax will be approximately £20 million lower than that reported for 2014 (2014 underlying operating profit £89.3 million, underlying profit before tax £77.3 million).

 

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Price/Earnings 12.4x
Price/Sales 1.0x
Price/Book NM Not Meaningful
Price/Cash Flow 7.2x
TEV/Sales 1.0x
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