Banknote Maker’s Shares Fall Amid 20-Year Low Demand for Cash

A picture shows the banknotes of the Egyptian pound, the British pound sterling, and the US dollar, on Aug. 25, 2022. Photo by Khaled Desouki/AFP via Getty Images

British banknote printer De La Rue’s financial struggles have sent the stock crashing, with the company seeking to amend banking terms with lenders while facing decades-low cash demand.

For fiscal year 2023, 200-year-old De La Rue “expects full-year adjusted operating profits to be a mid-single-digit percentage below market expectations,” said the company in an emailed statement to The Epoch Times. “The downturn in currency, impacting both De La Rue and the wider industry, is causing a significant degree of uncertainty in terms of outlook for fiscal year 2024. The demand for banknotes has been at the lowest levels for over 20 years, resulting in a low order book going into fiscal year 2024.”