Partner Article

De La Rue eye £90 million profit since October

North East money and securities printing firm De La Rue say profits in the period from September 29 to present are expected to reach £90 million.

The Team Valley-based business employs 400 in the region and says it will enter the 2014/2015 year with a healthy order book.

The firm’s Currency Division is expected to report sales for 2013/14 of around 6.6 billion banknotes and 10,000 tonnes of banknote paper.

Overcapacity in the banknote market had been reported late last year, and De La Rue say this has made pricing challenging.

An update to shareholders said the firm’s Cash Processing Solutions had performed dissapointingly, although it was on target to break even in 2014/2015.

This was posted in Bdaily's Members' News section by Tom Keighley .