November 26, 2019 / 7:24 AM / 17 days ago

De La Rue to suspend dividend, review operations to cut costs

Nov 26 (Reuters) - De La Rue Plc said on Tuesday it plans to suspend dividend payment and review its business to cut costs, as its banknotes printing unit struggles with depressed margins amid stiff competition and growing popularity of digital payments.

The British passport and banknotes printer said it expects adjusted profit between 20 million pounds ($25.66 million) and 25 million pounds for full year 2019-20.

The company had warned in October that annual profit would be below market expectations. ($1 = 0.7794 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta)

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