(Alliance News) - De La Rue PLC on Wednesday said it expects yearly profit to be in line with guidance, with its Authentication unit achieving a GBP100 million revenue goal.

The Hampshire, England-based banknote printer expects still expects adjusted operating profit for the year ended March 30 in the "low GBP20 million" range. This would represent a decline from the previous year's GBP27.8 million.

De La Rue expects net debt "around GBP90 million", a touch better than previous guidance. It had previously predicted net debt "in the mid GBP90 million range".

De La Rue's net debt at the end of its prior financial year stood at GBP83.1 million.

The company's Authentication division, which offers digital software solutions to protect against counterfeiting, and identity theft, is expected to report revenue in excess of GBP100 million, as expected. This would be an improvement on the GBP91.7 million in financial 2023.

The board will provide an update by May 31 regarding its ongoing value optimisation review, and full year results are to be released on June 18.

De La Rue shares were 0.5% lower at 78.40 pence each in London on Wednesday morning.

By Elijah Dale, Alliance News reporter

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