De La Rue Results in Line with Expectations

De La Rue has released a comprehensive set of full year results for FY2023/24. These results were in line with market expectations and its previous trading update.

Group revenue of £310.3 million was 11.3% lower the previous year, largely impaired by a banknote industry downturn, which reduced the Currency division’s revenue by 18.7% to £207.1 million. The Authentication division achieved sales of £103.2 million, breaking the £100 million revenue milestone for the first time.

De La Rue’s positive adjusted operating profit (non-IFRS) of £21 million was in line with expectations and underpinned by both divisions. The overall IFRS profit of £5.8 million demonstrated a significant improvement vs FY23 (when it was – £20.3 million). This, says De La Rue, reflects its transformational journey to build a more resilient business, with many legacy issues now removed and FY24 incurring far fewer exceptional costs than FY23.