Bucking the recession, the world's largest security printer said that its currency order book remained strong and that the current low value of the pound was a "solid platform for the year ahead".

The strong performance continues what has been an "excellent" year for the business, having reported a 14.4% increase in revenue to £244.7m, for the first half of the year, and profits of £43.5m, up from £35.3m in the first half of 2007/2008.

However, operating cash flow has "significantly" reduced year-on-year and the company said it expected to end the year with "a modest net debt", but "remained confident in the underlying cash generation of the business".

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