Rns on website. Thanks17 Jun 2020 08:15
Business update
Three-year Turnaround Plan announced in February 2020, which is focused on growth in both Authentication and Currency, and a cost reduction programme.
Already implemented actions expected to deliver £24.8m of annualised savings (out of the total £35.9m of annualised savings targeted under the Turnaround Plan).
Today announcing a consultation process in relation to a proposal to cease banknote printing at our Gateshead plant, while retaining current printing capacity.
Won two new customers in Currency for our security thread Ignite®, with strong demand for Currency.
The Qatar Central Bank will be the first central bank to issue our next generation security feature NEXUSTM.
Strong growth in Authentication with good pipeline of upcoming tenders.
Mitigating actions taken to protect employees and insulate the business from the impact of the COVID-19 pandemic, with limited disruption experienced to date.