De La Rue PLC (LSE:DLAR) reported positive momentum in both its authentication and currency divisions in a strategic update published on Thursday.
During the financial year ending March 30, the authentication division secured multi-year contract extensions with two government revenue solutions customers, totalling over £150 million.
De La Rue said the operation now holds contracts with anticipated revenues of over £350 million.
Turning to the currency arm, De La Rue's order book increased to £239 million by the end of the financial year, with an additional £60 million in new orders.
The company said it is continuing discussions with numerous parties that have expressed interest in acquiring one of these divisions.
Chairman Clive Whiley said: "Since my appointment a year ago, the board has considered a broad range of possible strategic alternatives including transactions with multiple parties which may involve a combination with, or the sale of, the group's divisions.
“The board confirms that the discussions with the relevant parties are advancing, and we expect to update further at the time of the full-year results in July."
A further announcement will be made in due course, said the group.
Speaking on the financial update, chief executive Clive Vacher said: "We are delighted to extend our relationship with these high-profile customers within our authentication division.
"This, alongside other recent renewals and the expanding currency order book, demonstrates further progress in the development of De La Rue which will help to underpin our performance in the financial year 2025."