Fall Street and paper quality issues shares hit profits
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First half profit De La Rue fell to ￡ 44. 2 m within six months to September 25, ￡ 69. 4 m a year ago. Sales decreased by 17pc ￡ 209. 2 m
Society "issues in production of paper in one of our hotels have, as previously advised, had a significant impact on the performance of the Group during the first half," said. ""There is still uncertainty about the outcome of this matter, including its financial impact on current and future fiscal years.
The street and said that he took all measures necessary to eliminate problems with certification in September said that it would be able to resume supplies of paper and paper entirely conforme.La society had previously stopped shipment of paper ticket when he discovered the problem.
Shares fell 21.5%, or 3 5pc, p 601.5 morning business, taking the total slide in prices on the part of this year to 39pc.
Issue of production of the street cost the work of James Hussey, who resigned as Chief Executive in a daring attempt to save a contract with Reserve Bank of India worth up to 25pc of profits from business it left in August after 27 years with the company.
Today, the company said it was "satisfactory progress" towards the appointment of his successor.
"While the recent issues are obviously very serious and most likely to have consequences in the short term, there are some signs that the worst may now be passed," analysts said Investec.
