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Banknote printer De La Rue warned on profit the pandemic impact on the company's manufacturing facilities worsened following the emergence of omicron, while supply-chain issues also weighed on performance.
As a result fo these external factors, the company said it now expected adjusted operating profit for the full year to be broadly similar to last financial year, in the £36-to-40 million range, versus market expectations of approximately £45-to-47 million.
This revised outlook still 'demonstrates substantial year-on-year growth in our two core businesses,' the company said.
The outlook for currency and authentication represents adjusted operating profit growth in the range of 35-to-45%, from the £27.5 million delivered by the two businesses in FY2020-21.
The company also said the pandemic and supply chain issues would delay the results of its turnaround plan by about 12 months delay
'In addition, we see these factors continuing as incremental headwinds into financial year 2022-23, with the effect of slowing the Company's adjusted operating profit growth profile,' the company said.