De La Rue on track, but cost cutting continues

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The company said its currency division has made "good progress" since its interim results were announced on September 24, while order intake and enquiries were "good and consistent".

De La Rue, which designs and produces more than 150 currencies, employs around 4,000 people worldwide and will create around 100 jobs at its UK factory in Gateshead when it shifts production from a site in Bedfordshire.

It is aiming to save £30m over three years to counter a drop in profits earlier in 2011.

De La Rue's first half revenue stood at £238.1m, with pre-tax profits before exceptionals of £29m.

It will publish its full year results at the end of May.