De La Rue Reports Strong Order Book, Equity Sale Talks Underway

De La Rue has announced its half-year results for the six months ending September 2024. The company reported lower revenues but continued growth in its order book, and strategic development with the proposed sale of its Authentication business to Crane NXT.

Group revenues were down by 10% to £145.1 million. The company achieved an adjusted operating profit of £7.3 million, ahead of guidance but 7.6% lower than the same period last year. On an IFRS basis, first half operating profit was £1.3 million, versus a £3.4 million loss in the first half of 2023/24.

Revenue for the first half in the Currency division was £94.9 million, down by £18.5 million.

De La Rue said this reflects the shifting timing of certain customer deliveries, which are now expected in the second half of the fiscal year. As of 28 September 2024, the order book stood at £251.7 million, up from £239.2 million at the end of FY24. Looking ahead, the company secured further major orders in Q3, pushing the order book to £338 million by November 2024 – the highest level seen in at least five years.