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De La Rue upgraded by Numis

23 May 2016 14:21

Numis has upgraded banknote printing specialist De La Rue (LON:DLAR) to Add from Hold following the sale of its Cash Processing Solutions (CPS) business for an immediate consideration of GBP2.1m plus a deferred element of GBP1.5m.

The broker reckons the key point to this news is that it is a "done deal" and the company avoids heavy potential closure costs, which it says is "a highly favourable development, given the scale of its loss".

DLAR is due to report its full-year results tomorrow.

At 2:21pm: (LON:DLAR) De La Rue PLC share price was +11p at 497p

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