De La Rue hails strong currency activity as order book grows

(Alliance News) - De La Rue PLC on Wednesday said the current financial year has been "a year of ...

Alliance News 5 March, 2025 | 6:09PM
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(Alliance News) - De La Rue PLC on Wednesday said the current financial year has been "a year of good progress" as activity levels increase in its Currency business.

The Hampshire, England-based banknote and security document printer said it is "on track" with the financial year to the end of March, due to strong Currency order book growth in the second half.

"This outcome is dependent on efficient production and timely delivery of completed product in the final weeks of this financial year," the firm said.

De La Rue said the Currency order book stood at GBP347 million at the end of January.

It expects growth in the Currency division to be "significantly higher" than previously guided, in the next financial year to the end of March 2026.

The firm said it expects the sale of its Authentication division to be completed in the first half of the 2025 calendar year.

The completion of the sale will repay its revolving credit facility in full ahead of its maturity on July 1.

De La Rue said it continues to be in discussions "that may or may not result in possible cash offers for the company", and with "various potential counterparties" in relation to the Currency division.

Chief Executive Officer Clive Vacher said: "The Currency division is now benefitting from the success we have had in transforming the business over the last five years with a substantial upward increase in activity predicted by the growing order book. With sales for FY26 now largely contracted and the proposed sale of Authentication proceeding as planned, we will be able to focus on delivering finished banknotes, polymer and security features to our Currency customers efficiently and effectively.

"We expect FY26, our next financial year, to bring a significant escalation in the performance of our Currency business."

Shares in De La Rue were up 0.4% to 122.00 pence in London on Wednesday afternoon.

By Michael Hennessey, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
De La Rue PLC 122.00 GBX 0.41 -

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