--- description: Stocks tumbled 34% as De La Rue warned that demand for banknotes is the weakest in 20 years. title: King Charles Coronation: Money Printer De La Rue Hits Low image: https://static.time.com/v3/assets/bltea6093859af6183b/blt4333b97a114b8a78/698a3bf1b21a9c4072507284/GettyImages-846745122.jpg?branch=production&width=2400&quality=75&auto=webp&crop=16:9 ---  * [World](/section/world/) ## World Update your preferences in [Account Settings](/account/preferences/) Close * [royals](/tag/royals/) ## royals Update your preferences in [Account Settings](/account/preferences/) Close # King Charles III Banknote-Printer De La Rue Hits Record Low, Citing Weak Demand by [Joe Easton / Bloomberg](/author/bloomberg/) ## Joe Easton / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 12, 2023 9:44 AM CUT  A foil patch containing an image of the coronation crown sits on a U.K. 10-pound banknote on Monday, Sept. 11, 2017. A foil patch containing an image of the coronation crown sits on a U.K. 10-pound banknote on Monday, Sept. 11, 2017.Jason Alden—Bloomberg via Getty Images by [Joe Easton / Bloomberg](/author/bloomberg/) ## Joe Easton / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 12, 2023 9:44 AM CUT (Bloomberg) — De La Rue Plc shares fell to a record low as the company that’s reprinting UK money following the accession of [King Charles III](https://time.com/6266973/king-charles-iii-coronation-latest/ "undefined") warned that demand for banknotes is the weakest in 20 years. The stock fell as much as 34% in early London trading after the firm said adjusted operating profit for the fiscal year just ended would miss analyst estimates by “a mid-single digit percentage.” Trading volume swelled to 3.9 million shares, more than 20 times the three-month daily average. The plunge is the second in four months for De La Rue, which cited a surge in input costs such as energy for a November [profit warning](https://www.bloomberg.com/news/articles/2022-11-23/banknote-maker-de-la-rue-plunges-after-issuing-profit-warning "undefined"). **Read More:** [_Why There’s No Crown on the New King Charles Stamps_](https://time.com/6268385/king-charles-iii-stamps-no-crown/ "undefined") Wednesday’s drop saw the company’s market capitalization cut to just 67 million pounds ($83.2 million). The firm was worth close to a billion pounds about a decade ago, but has been hit by a string of warnings as consumers shift to card and digital payments. The company also suffered from the loss of a contract to produce [Britain’s blue passports after Brexit](https://www.bloomberg.com/news/articles/2018-04-18/de-la-rue-rues-loss-of-u-k-passport-contract-but-won-t-appeal "undefined"). De La Rue added in the statement that it’s talking with lenders about amending its banking covenants, in part due to the recent jump in Bank of England interest rates. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/6270845/uk-king-charles-banknotes-low-demand/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/6270845/uk-king-charles-banknotes-low-demand/"},"headline":"King Charles III Banknote-Printer De La Rue Hits Record Low, Citing Weak Demand","datePublished":"2023-04-12T09:44:13.000Z","dateModified":"2026-02-24T15:43:30.631Z","description":"Stocks tumbled 34% as De La Rue warned that demand for banknotes is the weakest in 20 years.","url":"https://time.com/6270845/uk-king-charles-banknotes-low-demand/","keywords":["royals","wire"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt4333b97a114b8a78/698a3bf1b21a9c4072507284/GettyImages-846745122.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Joe Easton / Bloomberg"}],"articleSection":"World","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt4333b97a114b8a78/698a3bf1b21a9c4072507284/GettyImages-846745122.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"The New £10 Note Dares Counterfeiters To Just Try","caption":"The New £10 Note Dares Counterfeiters To Just Try","creditText":"Jason Alden—Bloomberg via Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/world/","name":"World"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/royals/","name":"royals"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/6270845/uk-king-charles-banknotes-low-demand/","name":"King Charles III Banknote-Printer De La Rue Hits Record Low, Citing Weak Demand"}}]}] ```