DuPont unit swells De La Rue authentication revenues

De La Rue's authentication and traceability unit recorded sales of almost £35m ($45m) in fiscal 2016/17, a 20 per cent rise on the prior year.

The UK company said that its recent $25m acquisition of DuPont Authentication – which closed in January and was De La Rue's first acquisition for 14 years - contributed 7 per cent of that rise, with the remaining 13 per cent growth at the unit driven by tax revenue protection projects.

DuPont's technologies – which include photopolymer holographic films and 3D holograms and associated software – are used to authenticate products ranging from consumer electronics to spirits and also to secure identity documents. The acquisition also helped boost De La Rue's identity solutions unit which saw revenues rise 5 per cent to just under £81m.

Overall, De La Rue made an operating profit of £70m – in line with the prior year - on revenues up 2 per cent to £462m, which chief executive Martin Sutherland (pictured) said showed the company was making progress two years into its latest five-year plan.

"We have made solid progress against our objectives to diversify the business and improve the quality of earnings," he said, noting that the DuPont deal "further strengthens our position in the strategically important and growing product authentication market."