COVID 19 Impacts De La Rue Turnaround Plan

De La Rue has announced a trading update on the financial year ending March 2022, as well as an update of progress on its Turnaround Plan, which unsurprisingly has been impacted by the pandemic.

When announcing its half year results last November, De La Rue noted increased commodity and energy costs, and challenges in the supply chain. Since then, the problems, primarily due to COVID, have become more pronounced. The Delta and Omicron variants have led to substantially increased employee absences in manufacturing facilities globally, which, the company said, will result in lower total operational output for the full year. Also, the Group has been affected by supply chain shortages in process raw materials and chips and has experienced a degree of supply chain cost inflation.