UK bank-note printer De La Rue has announced a 2% growth in revenue to £461.7m for the 2016-17 financial year, an increase of £7.2m over the previous year.
The Basingstoke-based company, which has offices or manufacturing bases in more than 25 countries around the world, reported pre-tax profits of £58.2m, an increase of 6%.
De La Rue printed 7.1bn bank notes over the course of the year, but has rationalised its printing facilities in Malta, which it estimates will save roughly £13m in the next financial year.
Founded in Guernsey in 1813, De La Rue is one of Britain’s oldest companies, and currency printing has traditionally been the mainstay of its business. It prints all notes issued by the Bank of England, including the new polymer £5 notes.
A new polymer £10 note featuring Jane Austen will enter circulation in summer 2017 and the new polymer £20 portraying J M W Turner will be introduced by 2020.
De La Rue has also been diversifying into other areas, with its Identity Solutions division, which makes passports and ID cards for a number of countries, growing revenue by 5% over the year and increasing its profit by 37%, while the Product Authentication division grew revenue by 20% and profit by 29%.