LONDON, May 29, 2012 /PRNewswire/ --
Bank note printing company De La Rue is back on track. Releasing
its preliminary results today, the Group announced strong growth
with revenues up 14 percent to £528.3m and operating profit up 56
percent to £63.1m.
De La Rue is focused on delivering their Improvement Plan
announced in May last year. The Plan has a target to return the
business to a 2013/14 operating profit in excess of
£100m.
In a video interview, CEO Tim
Cobbold said though it may be difficult to predict the
timing of new orders, the company was "absolutely confident"
on the out turn of the improvement plan.
"When we set out the improvement plan it was a three year plan,
and we identified cost savings of £30m. And this year you have
seen the first wave of those savings; a contribution of £8m from
the improvement plan. And the next two years you'll see
specific projects coming through that deliver further savings."
The interview and transcript are available now on
http://www.cantos.com/company/De%20La%20Rue.
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