Money maker heads for money worries: De La Rue warns against rising costs currency maker Shares dropped over 10 per cent for De La Rue this afternoon, after the currency maker warned against rising costs and and supply shortages.
Banknote printer De La Rue bags Bank of England contracts for new notes Banknote printer De La Rue bags Bank of England contracts for new notes Banknote printer De La Rue has today reported it halved its net debt in the year to 27 March with Covid ‘turnaround’ measures, ahead of the group’s new £50 banknote due for release next month. Already creating a new banknote making its way to people’s pockets in June for the Bank of England (BoE), the [...]
De La Rue in talks to produce ‘Covid passports’ De La Rue is in talks with governments and pharmaceutical companies about producing ‘Covid passports’. The banknote printer is also in conversations surrounding security seals and tracking systems to guarantee that vaccines and tests are genuine, according to the Telegraph. At the unveiling of the group’s interim results, chief executive Clive Vacher said: “We do [...]
De La Rue reveals turnaround plan to slash £35m of costs a year February 25, 2020 Banknote printer De La Rue today revealed its plan to cut £35m in annual costs after it lost a battle to print Britain’s post-Brexit blue passports. Shares soared 20.5 per cent to 147.2p as investors welcomed the plan. The company said it has already slashed £10m in annual costs, and it will target a yearly [...]
De La Rue shares plunge as it scraps dividend and warns of ‘significant doubt’ over future November 26, 2019 De La Rue has bailed on plans for a dividend this year and warned there is “significant doubt” on its ability to continue to operate, sending shares plummeting. “We have concluded there is a material uncertainty that casts significant doubt on the Group’s ability to continue as a going concern,” it said today as it [...]
De La Rue share price plunges as it issues profit warning October 30, 2019 De La Rue’s share price crumbled today after it warned investors that full-year profits would fall “significantly lower” than current market expectations. Britain’s former passport maker also warned that adjusted operating profit for its half-year to the end of September would only be in the low-to-mid single digits. Read more: De La Rue appoints turnaround [...]
De La Rue appoints ‘turnaround specialist’ Clive Vacher as new CEO October 7, 2019 British banknote printer De La Rue has announced former Rolls-Royce executive and turnaround expert Clive Vacher as its new boss today. Vacher was previously in charge of Dynex Power and has a background in the engineering space, working at the likes of Rolls-Royce, General Dynamics, B/E Aerospace and Pratt and Whitney. De La Rue chairman [...]
Investor ‘threatens to oust chair’ at troubled printer De La Rue July 16, 2019 Banknote and passport producer De La Rue faces fresh boardroom disruption after a City investor is said to have threatened to force its chairman out. Crystal Amber activist fund has written to the company, informing the board that it plans to force an EGM unless chairman Philip Rogerson resigns by its annual shareholder meeting later [...]
De La Rue share price sinks 25 per cent as CEO quits after loss of passport contract May 30, 2019 Shares in UK security printing company De La Rue have plummeted 25 per cent to 343p after it announced its chief executive Martin Sutherland would be stepping down following the company’s failure last year to win the contract to print Britain’s new, blue passports. Read more: Profit slumps at De La Rue following UK passport loss The [...]
Profit slumps at De La Rue following UK passport loss November 27, 2018 De La Rue today reported a fall in profits in its first results since it lost the contract to print the UK’s passports. The figures The company said its adjusted operating profit fell 36 per cent to £17m in the six months to 29 September when compared to the same period last year. Revenue increased [...]