Newspaper article The Journal (Newcastle, England)

Bank Note Printer's Investors in Money; in Association with RBS

Newspaper article The Journal (Newcastle, England)

Bank Note Printer's Investors in Money; in Association with RBS

Article excerpt

BANK note printer De La Rue saw its share price jump yesterday after it posted strong results and announced plans to review its structure.

Analysts said the strategy review - due to be unveiled in May - could result in the sale of its cash systems arm, which provides note sorting machines.

Chief executive Leo Quinn said he would consider all options during the review, including breaking the company up and paying special dividends.

The company, which produces one in five of the world's banknotes, said the first-half results showed the fruits of a previous review started three years ago. Basingstoke-based De La Rue, which employs 180 people at its biggest UK factory in Gateshead, saw sales up 5.1% to pounds 345.1m and profits 22.6% higher at pounds 53.8m in the six months to September 29.

It said it had been encouraged by order levels in both its divisions, with the banknote printing business expected to achieve a second-half performance significantly ahead of the same period a year earlier. …

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