De La Rue sees profits hit by poor start to the year in currency arm 


Passport and banknote maker De La Rue sees profits hit by a poor start to the year in its currency arm

De La Rue predicts adjusted operating profit for the 12 months ending March 27 would be between £20m and £25m

De La Rue predicts adjusted operating profit for the 12 months ending March 27 would be between £20m and £25m

De La Rue has seen profits hit by a poor start to the year in its currency arm. 

The passport and banknote maker predicted that adjusted operating profit for the 12 months ending March 27 would be between £20million and £25million, in line with earlier guidance. 

However, this is a major drop on the previous year, when adjusted operating profit reached more than £60million.  The fall is largely due to business drying up in its currency arm in the first half of the financial year. 

It marks the end of a tough year for the firm, forcing it to embark on a turnaround plan, cutting costs and improving efficiencies. 



READ SOURCE

READ  Uber gains after CEO confirms 2021 EBITDA profitability forecast for Mobility and Delivery

LEAVE A REPLY

Please enter your comment!
Please enter your name here