Announcing its preliminarily results this morning, the security printer recorded a 9.6% increase in revenue to £66.1m, for the first three months of 2008.

This increase was driven, in part, by strong demand for banknotes, which were up 13.4% and paper volumes, which were up 19.2% on the previous year.

Chairman Nicholas Brookes said: "I am pleased to report another strong year of trading across all our activities, showing once again the firm foundation on which the group now stands.

"In addition, we today set out the conclusions of the strategic review initiated last November. This has assessed both the optimum structure of the group and the appropriate balance sheet capitalisation and dividend policy of that structure."

It was widely believed that the company would announce the sale of its cash machine arm Cash Systems this morning. However, it revealed it was in discussions to sell the business excluding Cash Processing Systems, which develops and supplies bank note sorters and cash optimisation software.

Brookes added: "We enter 2008/2009 with the order books in both divisions at a four-year high. In currency, this is expected to result in the business continuing to operate throughout the current year at the high levels of capacity experienced in 2007/2008."