April 11, 2017 / 6:51 AM / 9 months ago

De La Rue sees full-year profit ahead of market estimates

April 11 (Reuters) -

* De La Rue Plc, the world’s largest commercial banknote printer, said it expected full-year profit ahead of market estimates, citing growth in its identity systems, and authentication and traceability product lines.

* The company said underlying operating profit would come in above the top end of market consensus, which stood at 66.4 million pounds ($82.4 million) for the year ended March 25, 2017.

* De La Rue has been reducing its paper banknotes production to bring it in line with falling demand; its identity systems provides passports, while its authentication unit develops ‘track and trace’ software to help counteract transport of counterfeit goods.

* The company highlighted on Tuesday the rising cost of raw materials such as cotton, but said the increase would be more than offset by the weakness in the sterling giving it a competitive advantage on exports.

* Expectations for the current financial year remain unchanged, De La Rue said. ($1 = 0.8055 pounds) (Reporting by Esha Vaish in Bengaluru)

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