Updates

De La Rue

June 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

After moving smoothly to new highs of 208p, the shares surprisingly retraced despite De La Rue saying adjusted operating profit for FY’21 is expected to be around the top end of previously raised expectations (£36m-£37m). Capital spending was lower than expected, which meant net debt was just £53m against forecasts of £74m, although total investment in the three-year turnaround plan remains unchanged. One negative surprise was a £13m non-cash exceptional asset impairment write-down as a result of the closure of its Gateshead banknote printing operations in December 2020 but these historic issues are not relevant to the story going forward. In spite of the share price bl ...

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De La Rue - One warning too many; I am selling (January 2023)

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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