De La Rue plc (LON:DLAR) saw volumes in its polymers division surge in its latest year as the controversial five pound note was introduced into Britain.
Vegans complained bitterly that the fiver, which is made by De la Rue rival Innovia, contained animal fat and a petition has been set up to have its constituents changed.
A new ten pound note made from polymer is released in the UK in September, but the Bank of England has not confirmed if it is made from the same ingredients as the fiver.
Growth in polymers was a highlight in an otherwise flat year for De La Rue, with the dividend maintained even though operating profits came in at the top end of market forecasts.
The banknote printer saw underlying operating profits rise slightly to £70.7mln in the year to March, while pre-tax profits were 6% higher at £58.2mln. Revenues rose by 1.6% to £461.7mln.
“Resilient performance in our currency business, improved mix in Banknote Print and increased Paper volumes partially offsetting the impact of a concluded security features contract,” it said.
Group orders of £387mln provide good visibility and confidence for the year ahead, it added. The dividend was 25p.
Shares rose 1% to 652.5p.