De La Rue expects earnings to be flat after orders stall

 
Michael Bow
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LONDON listed bank note printer De La Rue yesterday issued a profit warning for the current financial year due to a delay in orders which has stalled production.

The 199 year old company, listed on FTSE 250, said results for the current year would be similar to last year’s results.

It said: “A number of significant orders which had been expected and planned for production in the second half of the current financial year have continued to be delayed. It will now be too late for these orders to benefit the current financial year.”

The bank said performance in the first half of the financial year had been in line with expectations.

Banknote print volumes were up four per cent to nearly 3bn notes. Its order book for the year was £248m – the same value as at the start of the financial year.