De La Rue's Profit Warning Linked to Lowest Banknote Demand in 20 Years.
De La Rue, the world's largest banknote maker, issued a profit warning due to a 20-year low in demand for banknotes. Central banks around the world are working through stockpiles acquired during the pandemic, resulting in a low order book for De La Rue going into FY24. The company now expects its full-year adjusted operating profit for the 2024 fiscal year to be around low-£20 million, half of its previous unadjusted estimates of £40.1 million. De La Rue is discussing with banks about amending lending terms that will take into account the company's revised outlook and higher interest rates.