SHARES in bank note printer De La Rue, which has facilities in the North-East, slumped 34 per cent yesterday as investor confidence was rocked by a profits warning.
The Basingstoke firm, which has a printing facility in Gateshead, warned that interim profits were likely to be significantly below the previous year.
Last year saw a surge in orders following the introduction of the euro as eurozone countries made sure they had sufficient cash for the changeover.
Most countries have national mints but turn to the commercial sector and companies such as De La Rue to fulfil "overspill" orders.
This, however, had not been repeated this year.
The update rattled investors and shares dived a hefty 152p to 294p. The slump put De La Rue on course for its lowest close since May 2000 and is a far cry from highs reached last year of 535p.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article