Currency and security printers De La Rue has seen close to a e4 million increase in its profit levels due to the recent government contract for the printing of the new Maltese e-passports, according to the company’s annual results.

The contract to print Malta’s new and improved biometric passports was awarded last year, and in November the company had announced a e6 million investment in its Malta facility to cater for the new contract. The investment, it appears, is already bearing fruit.

Overall, the company reported a 5.4 per cent increase in pre-tax profits to GBP96.1 million citing the extension of a five-year contract with the Bank of England and currency division profits up by 25 per cent, while revenues in its Identity Systems division rose to £30.4 million from £26.5 million as it began to capitalise on its investment in the e-passport factory in Malta.

The company, which has been in Malta for over 30 years, produces ID systems and passports for some 40 countries.