De La Rue PLC on Wednesday said it expects yearly profit to be in line with guidance, with its Authentication unit achieving a £100 million revenue goal.

The Hampshire, England-based banknote printer expects still expects adjusted operating profit for the year ended March 30 in the ‘low £20 million’ range. This would represent a decline from the previous year’s £27.8 million.

De La Rue expects net debt ‘around £90 million’, a touch better than previous guidance. It had previously predicted net debt ‘in the mid £90 million range’.

De La Rue’s net debt at the end of its prior financial year stood at £83.1 million.

The company’s Authentication division, which offers digital software solutions to protect against counterfeiting, and identity theft, is expected to report revenue in excess of £100 million, as expected. This would be an improvement on the £91.7 million in financial 2023.

The board will provide an update by May 31 regarding its ongoing value optimisation review, and full year results are to be released on June 18.

De La Rue shares were 0.5% lower at 78.40 pence each in London on Wednesday morning.

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