De la Rue's currency orders slide
Bank note printer De La Rue appears said orders in its Currency division have been below expectations since the beginning of April.
Bank note printer De La Rue appears said orders in its Currency division have been below expectations since the beginning of April.
The decline in orders during the three months from April 1st was the result of delays in receipt of orders and the more challenging market conditions for bank note paper. The firm expects volumes for the year to return to the usual weighting towards the second half, unlike the previous financial year.
In the Solutions division, trading was in line with management expectations, with Identity Systems and Cash Processing Solutions trading well, while market conditions for Security Products remain "challenging".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm said good progress continues to be made in delivering the cost reductions in the improvement plan, which has a target 2013/14 operating profit in excess of £100m.
The group's order book at the end of first quarter was at a similar level to that at the year end, with "a number of important opportunities" in the pipeline that are yet to be confirmed for production in the current financial year.
"With the improvement plan on track, and a good order pipeline the board's expectation for the current year remains unchanged," the company said.
Chairman Nicholas Brookes told shareholders at the annual general meeting on Thursday that trading since the beginning of April had been "satisfactory"; the market begged to differ, with the share price falling 4.51% to 1,017p in the morning session.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Shein shifts IPO focus to Hong Kong
The development piles fresh pressure on London’s beleaguered stock market, which many had hoped would be boosted by Shein’s IPO
-
Scientists turn lead into gold – could it wreck the yellow metal's price?
Medieval alchemists have been vindicated after scientists turned lead into gold, but the results aren’t going to crash the gold price any time soon