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BUZZ-De La Rue hits 21-year low after second profit warning this year

Wed 30th October, 2019 8:45am
(Updates share price, adds details)
    ** Shares of Passport maker De La Rue  DLAR.L  slide 30% to
their worst in over two decades after the company issues a
second profit warning, saying annual profit would be
significantly lower than market view  urn:newsml:reuters.com:*:nL3N27F22Y
    ** Company had said in May that annual operating profit for
would be "somewhat lower" than last year
    ** De La Rue did not specify the reason for its latest
lowered expectations, but has previously pointed to margin
squeeze from competitive pressures in banknote printing
    ** Stock down 21.9% to 146.4 pence at 08:33 GMT on UK's
small-cap index  .FTSC ; on track for worst day in five months
    ** DLAR also says new top boss Clive Vacher, a turnaround
specialist, is leading a review of business 
    ** The company expects half-year adjusted operating profit
to be in the low-to-mid single digit millions
    ** Including Wednesday's losses, DLAR shares down about 65%
YTD
    ** About 378,000 shares of De La Rue have traded so far on
Wednesday, about 256% of their 30-day daily moving average    

 (Reporting by Tanishaa Nadkar and Pushkala Aripaka in
Bengaluru)
 ((Reuters Messaging:
tanishaa.nadkar.thomsonreuters.com@reuters.net))
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