De La Rue Authentication Achieves Record Sales, Amid Concerns

De La Rue has announced its full year results for the period ending 30 March 2024, with its Authentication division (including tax stamp programmes) achieving record sales of £103.2 million. This figure surpasses the division’s £100 million target, and represents a 12.5% increase over 2023. The results are, however, overshadowed by a £235 million loan that becomes payable next July.

During the 2024 fiscal year, the Authentication division secured multi-year renewals on four significant contracts, two of which were for tax stamp programmes. With these renewals in place, the division expects future revenue from contracts to be in excess of £350 million, equivalent to around 3.5 years of revenue at current run rates.

Commenting, in particular, on the company’s government revenue solutions business (ie. tax stamps and track and trace), Clive Vacher, CEO of De La Rue, said: ‘we continue to see good opportunities to expand the range of products authenticated within the existing territories which we cover, including soft drinks within the Gulf Cooperation Council (GCC) region. We are looking to expand the number of territories covered as well as increasingly move to direct-to-product printing’.