De La Rue profit up 15.6%, sees strong demand for banknotes
U.K. banknote printer De la Ruesaid Tuesday that its net profit for the six months ended Sept. 29 rose 15.6% to 35.6 million pounds ($73.3 million) as sales for the period grew 5.1% to 345.1 million pounds.
Sales growth was driven by its security paper and print unit, with profit also helped by a strengthening margin following efficiency improvements, the company said. D
e La Rue said due to a strong order book for currency, it expects second-half performance in its security paper and print division to be significantly ahead of the same period last year.
Its cash systems division, meanwhile, continues to trade in line with expectations, the company said.
U.K. banknote printer De la Ruesaid Tuesday that its net profit for the six months ended Sept. 29 rose 15.6% to 35.6 million pounds ($73.3 million) as sales for the period grew 5.1% to 345.1 million pounds.
Sales growth was driven by its security paper and print unit, with profit also helped by a strengthening margin following efficiency improvements, the company said. D
e La Rue said due to a strong order book for currency, it expects second-half performance in its security paper and print division to be significantly ahead of the same period last year.
Its cash systems division, meanwhile, continues to trade in line with expectations, the company said.
