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The Markets
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Fashion & brands

De la Rue on track as business steadies

De La Rue held steady as the embattled banknote printer said adjusted operating profit would be in line with guidance previously given - the low £20m range.

Basingstoke-based, the company has struggled for years with the major loss of its British passport contract after Brexit, increased costs, supply chain woes, and a structural decline in demand for physical cash amid the rise of contactless payments and digital banking.

Net debt is expected to be around £90m, it added today., which is marginally better than previous guidance.

"In addition, the Authentication division is expected to report revenue over £100m, as previously targeted," said the statement.

Shares were unchanged at 78.8p.

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