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RNS Number : 2105V De La Rue PLC 13 April 2021 13 April 2021 DE LA RUE PLC TRADING UPDATE De La Rue plc ( LSE : DLAR ) ( " De La Rue " or the " Company " ) today announces a trading update for financial year 2020/21 , which ended 27 March 2021 . As a result of continued positive trading , the Board expects Adjusted Operating Profit for the financial year 2020/21 to be around the top end of the £ 36 million to £ 37 million range previously indicated in the Company's trading update of 28 January 2021 . End of year Net Debt was approximately £ 53 million , which is lower than market expectations ( 1 ) by approximately £ 21 million . This is mainly due to lower capital expenditure during the year , consistent with adjustments made to the timing of capital spend as the Turnaround Plan has evolved . Total aggregate 3 - year cash investment for the Turnaround Plan remains unchanged . Due to the positive outcome of the financial year , the Company has repaid all the money received from HM Government's Coronavirus Job Retention Scheme . Furlough payments received under this scheme totalled approximately £ 0.4m . In the results for financial year 2020/21 , the Company will record non - cash exceptional asset impairment and accelerated depreciation charges of approximately £ 13 million on historic assets , as a result of the closure of the Gateshead banknote printing operations in December 2020. Of this , approximately £ 12m was recorded in the second half of the year following finalisation of the detailed plans for which assets currently are expected to have any ongoing use within the group . De La Rue expects to announce its results for the full year ended 27 March 2021 on 26 May 2021 . De La Rue plc's LEI code is 213800DH741LZWIJXP78 . ( 1 ) . Market expectations are based on the average of published notes from Investec and Numis Securities . Enquiries : De La Rue plc Clive Vacher +44 ( 0 ) 7387 122645 Rob Harding Matthew Rose Brunswick Group LLP Stuart Donnelly / Ed Brown Chief Executive Officer Chief Financial Officer Director of Tax , Treasury and Investor Relations +44 ( 0 ) 207 404 5959 Cautionary note regarding forward - looking statements This announcement includes statements that are , or may be deemed to be , " forward - looking statements " . These forward - looking statements can be identified by the use of forward - looking terminology , including the terms " believes " , " estimates " , " anticipates " , " expects " , " intends " , " plans " , " may " , " will " , " could " , " shall " , " risk " , " aims " , " predicts " , " continues " , " assumes " , " positioned " or " should " or , in each case , their negative or other variations or comparable terminology . These forward - looking statements include all matters that are not historical facts . They appear in a number of places throughout this announcement and include statements regarding the intentions , beliefs or current expectations of the directors , De La Rue or the Group concerning , amongst other things , the results of operations , financial condition , liquidity , prospects , growth and strategies of De La Rue and the industry in which it operates . By their nature , forward - looking statements involve known and unknown risks , uncertainties , assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of the Company . Past performance cannot be relied upon as a guide to future performance and should not be taken as a representation or assurance that trends or activities underlying past performance will continue in the future . Accordingly , investors or potential investors should not place undue reliance on these forward - looking statements . The Group's actual results of operations , financial condition , liquidity and the development of the industry in which it operates may differ materially from the impression created by the forward - looking statements contained in this announcement . In addition , even if the results of operations , financial condition and liquidity of the Group and the development of the industry in which it operates , are consistent with the forward - looking statements contained in this announcement , those results or developments may not be indicative of results or developments in subsequent periods . Other than in accordance with its legal or regulatory obligations , De La Rue does not undertake any obligation to update these forward - looking statements , which speak only as at the date of this announcement , and will not publicly release any revisions that may be made to these forward - looking statements , which may result from events or circumstances arising after the date of this announcement . This information is provided by RNS , the news service of the London Stock Exchange . RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom . Terms and conditions relating to the use and distribution of this information may apply . For further information , please contact rns@lseg.com or visit www.rns.com . 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