De La Rue posts 22 pct fall in operating profit
LONDON, May 27 (Reuters) - British banknote printer De La Rue reported a 22 percent fall in underlying operating profit on Wednesday, in line with its expectations, due to ongoing pricing pressures in the banknote printing market.
The 202 year-old firm said full year operating profit fell to 69.5 million pounds ($107.27 million) for the year ended March 28, down from last year's figure of 89.3 million pounds.
De La Rue (Other OTC: DELRF - news) , which makes over 150 national currencies and UK passports, warned in November that it expected underlying operating profit to be approximately 20 million pounds lower than the previous year's figure. ($1 = 0.6479 pounds) (Reporting by Li-mei Hoang; editing by Kate Holton)