De La Rue trading in line

23rd Jul 2009 07:52

Specialist printer De La Rue said first quarter trading has been in line with company expectations.Chairman Nicholas Brookes said, "Overall our expectations for the full year 2009/2010 remain unchanged, underpinned by the continued good order book coverage in currency." First half banknote volumes are expected to be consistent with the corresponding period last year, with revenues, as anticipated, helped by favourable exchange, the group said in Thursday's trading update.Levels of advance payments in the first quarter remain consistent with the year-end. Meanwhile Cash Processing Solutions has had a slow start to the year on large sorter sales due to difficult trading conditions and delays to a number of anticipated orders, it added.Security Products is trading in line with expectations and Identity Systems, whilst maintaining good order book visibility, has volumes weighted towards the second half of the year.