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De La Rue - Expanding polymer banknote capacity

March 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.

  • Epic Code:
  • DLAR
  • Price:
  • 157p
A mistake made by countless investors is to buy bombed-out companies too early. One share I think has unmistakably turned the corner, however, is banknote printer De La Rue (DLAR; 157p). The year starting 1 April is the first when sales and pretax profit are expected to have recovered to decent levels but the shares have lagged. Numis is forecasting eps of 15.4p for the year starting 1 April with 20.2p the following year to drop the PE to 7.8.The low prospective PE belies the fact that the Bank of England has awarded the business contracts to print all denominations of currency; new investment is going into printing polymer banknotes (you know the ones that have see-through windows and holograms); hologram products are being ...

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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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