De La Rue's decision to close its banknote printing operations in Gateshead cost the company £13m.
The business made the controversial decision to stop printing money at its Team Valley site in December last year. The factory had been a major base of operations for the company, where it had historically printed banknotes as well as UK passports.
The decision to shut down the bank note printing operations at the factory led to 225 jobs being put at risk at the site. The company said 85 jobs in the company’s currency and authentication divisions remain at the North East site..
But in a statement to investors, De La Rue said that the closure of the banknote printing division would lead to the firm writing £13m from its accounts.
In a statement to investors De La Rue said: "In the results for the financial year 2020/21, the company will record non-cash exceptional asset impairment and accelerated depreciation charges of approximately £13m on historic assets, as a result of the closure of the Gateshead banknote printing operations in December 2020.
"Of this, approximately £12m was recorded in the second half of the year following finalisation of the detailed plans for which assets currently are expected to have any ongoing use within the group."
De La Rue also said that adjusted operating profit for 2020/21 would come in at the higher end of the £36m to £37m range the company had previously predicted.
Net debt stood at around £53m, which is £21m lower than the market expectations.
The firm said the lower debt figure was due to the the firm having a lower capital expenditure during the year.
De La Rue also said that hit also repaid all of the money it received from HM Government's Coronavirus Job Retention Scheme. The company had received around £400,00 through the scheme.
The company is expecting to release full year results for the full year ending March 27 on May 26.
