Feb 25 (Reuters) - De La Rue said on Tuesday it
plans to rein in costs at its currency division and invest more
in polymer notes, as the struggling banknote printer tries to
improve margins as part of a three-year turnaround plan.
The company, which flagged going concern doubts in November,
said it was targeting annual cost savings of 35 million pounds
($45.37 million) from the second half of 2020-21, up from its
prior target of 20 million pounds.
The company, which holds the contract to design and make the
Bank of England's new polymer notes, stuck to its previous
forecast for adjusted operating profit of 20-25 million pounds
for full-year 2019-20.
($1 = 0.7714 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard
Orr)