Gough blamed “weak trading” in the company’s security products business and said that De La Rue was making a strategic review of its manufacturing operations.
Gough added that the boost to business of the introduction of Euro banknotes last year had not been repeated this year.
On a brighter note he predicted things would get better later this year: “The strong banknote order book within [the] Currency [division] is more second-half weighted because of an unusually large number of new designs, which take longer to prepare than repeat orders.”
