De La Rue says ‘signs of recovery’ in cash usage after sharp fall in profits June 29, 2023 Cash printer De La Rue has said it sees “signs of a recovery” in money usage this year after a torrid 12 months in which its profit and revenues have contracted sharply. In its full year results today, the cash maker said revenues had tumbled 6.8 per cent to £349.7m in the year to March [...]
De La Rue warns of ‘significant uncertainty’ as demand for cash dries up April 12, 2023 Storied banknote-maker De La Rue said profits would slump below expectations today and warned of a “significant degree of uncertainty” as it struggles to cope with a downturn in cash usage.
De La Rue faces shareholder revolt as fund calls for chair to go over ‘failed’ turnaround plan April 5, 2023 London-listed banknote maker De La Rue is facing a shareholder revolt after a major investor demanded that chair Kevin Loosemore be removed for failing to improve the company’s performance. In a letter to shareholders today, AIM-listed activist fund Crystal Amber argued that De La Rue is failing to meet its financial targets, which it set [...]
Money maker heads for money worries: De La Rue warns against rising costs May 25, 2022 Shares dropped over 10 per cent for De La Rue this afternoon, after the currency maker warned against rising costs and and supply shortages.
Banknote printer De La Rue bags Bank of England contracts for new notes May 26, 2021 Banknote printer De La Rue has today reported it halved its net debt in the year to 27 March with Covid ‘turnaround’ measures, ahead of the group’s new £50 banknote due for release next month. Already creating a new banknote making its way to people’s pockets in June for the Bank of England (BoE), the [...]
De La Rue in talks to produce ‘Covid passports’ November 25, 2020 De La Rue is in talks with governments and pharmaceutical companies about producing ‘Covid passports’. The banknote printer is also in conversations surrounding security seals and tracking systems to guarantee that vaccines and tests are genuine, according to the Telegraph. At the unveiling of the group’s interim results, chief executive Clive Vacher said: “We do [...]
De La Rue reveals turnaround plan to slash £35m of costs a year February 25, 2020 Banknote printer De La Rue today revealed its plan to cut £35m in annual costs after it lost a battle to print Britain’s post-Brexit blue passports. Shares soared 20.5 per cent to 147.2p as investors welcomed the plan. The company said it has already slashed £10m in annual costs, and it will target a yearly [...]
De La Rue shares plunge as it scraps dividend and warns of ‘significant doubt’ over future November 26, 2019 De La Rue has bailed on plans for a dividend this year and warned there is “significant doubt” on its ability to continue to operate, sending shares plummeting. “We have concluded there is a material uncertainty that casts significant doubt on the Group’s ability to continue as a going concern,” it said today as it [...]
De La Rue share price plunges as it issues profit warning October 30, 2019 De La Rue’s share price crumbled today after it warned investors that full-year profits would fall “significantly lower” than current market expectations. Britain’s former passport maker also warned that adjusted operating profit for its half-year to the end of September would only be in the low-to-mid single digits. Read more: De La Rue appoints turnaround [...]
De La Rue appoints ‘turnaround specialist’ Clive Vacher as new CEO October 7, 2019 British banknote printer De La Rue has announced former Rolls-Royce executive and turnaround expert Clive Vacher as its new boss today. Vacher was previously in charge of Dynex Power and has a background in the engineering space, working at the likes of Rolls-Royce, General Dynamics, B/E Aerospace and Pratt and Whitney. De La Rue chairman [...]