De La Rue

De La Rue counts cost of passport loss

Passports
EPA

Bank note and passport printer De La Rue has issued its first figures since losing the contract to make the UK's post-Brexit passports.

Its adjusted operating profit has slumped 36% to £17m for the six months to the end of September.

But revenues are up 5% to £257.6m.

Boss Martin Sutherland, said: "In the light of the UK passport decision, we have completed a detailed review of our strategy."

"We continue to make progress in delivering against our strategic plan to transform the Group into a less capital intensive, more technology led business."

Good morning!

Welcome to Business Live.

The pound and shares may prove volatile today after a number of comments from US President Donald Trump last night, covering the UK's potential post-Brexit trade deal with North America and the trade war with China ahead of the G20 meeting this week.

A number of companies will report their results today.

They include De La Rue - which you may remember lost the government contract to make UK passports after the country leaves the EU to a French-Dutch business - as well as figures from Pets at Home, Topps Tiles and property firm Shaftesbury.

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