DOCSLIB.ORG

Annual Report 2015

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2015 De La Rue plc Annual Report 2015 Innovate Deliver Grow De La Rue plc De La Rue is a leading commercial banknote printer, security paper maker and provider of security products and software solutions and, as a trusted partner of governments, central banks and commercial organisations around the world, is at the forefront of the battle against the counterfeiter. As the world’s largest commercial De La Rue also produces a wide range banknote printer, De La Rue provides of other security products, including customers with a fully integrated range tax stamps for governments who are of sophisticated products and services seeking to combat illicit trade and collect which are available either individually excise duties. Other products include or as a whole. This includes a leading authentication labels, assuring purchasers design capability, production of innovative of product validity, and government security components, manufacture of identity documents. In addition the Group security paper and polymer substrates manufactures high speed cash sorting and and sophisticated printing of banknotes, banknote inspection equipment. all contributing to trust in the integrity The Group also provides a range of of currencies. specialist services and software solutions De La Rue is the world’s largest including government identity schemes, commercial passport manufacturer in an product authentication systems and cash environment of increasing global concern management processing solutions. over security at national boundaries and De La Rue is listed on the London Stock border control. Exchange (LON:DLAR) For further information visit Front cover images 1 5 1 Active™ banknote security thread www.delarue.com 3 6 2 Kuwait 10 dinar note – part of the new family of Throughout this annual report, ‘Group’ banknotes which won the International Association 2 4 of Currency Affairs’ ‘Excellence in Currency’ award and ‘De La Rue’ are used as a collective for Best New Banknote Series for 2014 term to describe De La Rue plc and its 3 Cardinal bird appearing in clear window on subsidiary companies. ‘Company’ is the Trinidad and Tobago $50 commemorative a reference to De La Rue plc. polymer note 4 A machine reads tax stamps as part of a track and trace government revenue protection scheme 5 A DLR 7000 high speed note sorter 6 Governments rely on De La Rue’s products and services to protect the identity of their citizens Headlines Strategic report 2015 Revenue 2015 Underlying operating profit* 2015 Profit before tax £472.1m £69.5m £38.9m 2014: £513.3m 2014: £89.3m 2014: £59.8m *Both 2014 and 2015 are stated before the impact 2015 Underlying operating cash flow* 2015 Underlying earnings per share* of exceptional items. £85.6m 45.3p 2014: £99.1m 2014: 60.7p Directors’ report Directors’ Accounts Strategic report Directors’ report Accounts 1 Headlines 28 Directors and Secretary 67 Independent auditor’s report 3 De La Rue at a glance 30 Corporate governance report 70 Group income statement 4 Our markets 39 Audit Committee report 71 Group statement of comprehensive 6 Our business model 42 Directors’ remuneration report income 7 Our strategy 64 Other statutory information 72 Group balance sheet 9 Chairman’s statement 73 Group statement of changes in equity 11 Chief Executive’s review 74 Group cash flow statement 15 Key performance indicators 75 Accounting policies 17 Financial review 78 Notes to the accounts 21 Risk and risk management 107 Company balance sheet 24 Responsible business 108 Accounting policies – Company 109 Notes to the accounts – Company 111 Five year record 112 Shareholders’ information De La Rue Annual Report 2015 1 Innovate. Deliver. Grow. Bringing new products to market Active™, De La Rue’s newest banknote thread launched in May 2015, combines lenticular technology with leading edge microscopic fine line printing to deliver a clear light colour / dark colour switching effect. The result is an aesthetically appealing, clearly visible banknote security feature that is simple to verify but very hard to replicate successfully. 2 De La Rue Annual Report 2015 De La Rue at a glance De La Rue offers a comprehensive Strategic report portfolio of security products and services. Security Products Delivers solutions crucial to the authentication of products and documents to protect revenues for governments, commercial organisations and financial institutions around the world. Software and systems are supplied alongside authentication labels, brand licensing report Directors’ products and government and financial Currency documents. Supplies banknote paper and polymer substrate as well as printed banknotes and a comprehensive portfolio of banknote security components and features including threads and holograms. The business also advises on effective currency solutions including design, demand forecasting, denominational structure and protection Identity Systems against counterfeiting – all critical issues Works with governments around the world of currency strategy. to secure personal identities by delivering tailored end-to-end identity management solutions. The business focuses on all identity document requirements including passports, ePassports, visas, ID cards and eID cards, as well as the associated Accounts policies, systems, processes and Cash Processing Solutions technology required for an integrated Provides central banks and bulk cash solution to ensure the integrity of every handling organisations with a range of individual’s identity. Ongoing training, service sophisticated high speed cash sorting and support activities are also provided. and authentication systems as well as software solutions, consultancy, service and support. These solutions enhance the productivity, performance and security of cash processing operations. The business also manufactures inspection equipment for banknote printing facilities, enabling new notes to be quality assured prior to issue. 2015 share of revenue 2015 share of underlying operating profit Currency 67% Currency 73% Identity Systems 15% Identity Systems 16% Security Products 8% Security Products 11% Cash Processing Solutions 10% Cash Processing Solutions 0% De La Rue Annual Report 2015 3 Our markets Global substrate market* Our integrated portfolio of products c163k tonnes pa State paper mills (SPM) 48% and solutions serves unique markets. Commercial paper mills 43% Overspill from SPMs 6% Polymer 3% Group market overview Currency market overview Global print market* Central banks, governments and commercial We believe that the demand for banknotes c163 billion notes pa organisations rely on De La Rue’s products will continue to grow in the long term State print works (SPW) 85% and services to secure transactions, protect however, demand has been relatively stable Commercial print works 13% Overspill from SPWs 2% identity, revenue and brands and to fight in recent years. Within the short term, counterfeiting and illicit trade. We are either the timing and size of orders can result a leader in these markets or are well placed in volatility. to take advantage of good growth prospects. Key factors affecting banknote issuance Across our business, market drivers and by central banks are note retirement, customer behaviours are changing. While changes in the underlying level of GDP, physical product is still of high importance population growth and the level of use there is an increasing emphasis on of alternative means of payment. Note technology as customers seek premium retirement remains the most important and security features and wider end-to-end is affected by several factors including the authentication solutions, including digital timing and frequency of changes in note applications. design, changes in cash circulation policy and technology, changes in ‘clean note’ There is also a shift to more formal, Commercial market share: print* policy and the introduction of new anti- technology led procurement processes. De La Rue 31% counterfeiting security features. In Currency, while many customers buy Others 69% the complete note from one supplier, The demand for banknotes and the others are moving to specify each element substrates on which they are printed is (security components, substrate and print) largely satisfied by state print works (SPW), separately, so several different suppliers state paper mills (SPM) and a small number may be involved. Tenders and e-tenders of commercial manufacturers including are also becoming more common. De La Rue. SPWs or SPMs may turn to commercial providers to supplement their own production capacity to satisfy demand they are unable to meet, known as ‘overspill’. SPWs sometimes emerge as competitors in the commercial market as they seek to utilise surplus capacity. There remains overcapacity in the print and paper markets which is causing pricing Commercial market share: substrate* pressure and we expect this overcapacity De La Rue 11% to continue in the short term. Others 89% Polymer, which accounts for around 3 per cent of the substrate market, is increasing in popularity due to its greater durability. De La Rue is one of only two suppliers of polymer substrate in the market, which we forecast to grow by c10 per cent per annum over the next 10 years. Value in banknote production is shifting from print to security components (threads and holograms) as some customers disaggregate note buying into components, *Source: De La Rue estimates substrate and print. 4 De La Rue Annual Report 2015 Strategic report Identity Systems market overview Cash Processing Solutions With
Load more

Recommended publications
  • De La Rue Annual Report 2000 Solutions for a World on the Move
    De La Rue Annual Report 2000 CASH SYSTEMS • CURRENCY • SECURITY PRODUCTS • GLOBAL SERVICES ➔ Solutions for a world on the move De La Rue operates in areas where our brand values of security, integrity and trust can be leveraged to the benefit of our customers and where we have, or are able to develop, leading positions. Global Services 04 Tailored solutions capitalising on our brand values of security, integrity and trust. From entire passport issuing systems for governments to anti-counterfeit solutions for the world’s brand owners. REVIEW SECTION FINANCIAL SECTION 2 Financial Highlights 21 Directors’ Report 3 Group Profile 31 Auditors’ Report 6 Chairman’s Statement 7 Chief Executive’s Review 32 Group Profit and Loss Account 10 Operational Review 33 Balance Sheets 18 Financial Review 34 Group Cash Flow Statement 20 Directors and Secretary 35 Group Statement of Total Recognised Gains and Losses 36 Accounting Policies 38 Notes to the Accounts 58 Principal Subsidiaries, Branches and Associated Companies 60 Five Year Record Shareholders’ Information ➔ Security Paper & Print 03 (Security Products) From passports to travellers cheques, driving licences to stamps, as the world’s largest security printer it is highly likely that you will be carrying a product that started life at De La Rue. Cash Systems 01 Providing cash handling solutions to the world's banks, retailers and transport and leisure companies enabling them to reduce the cost of handling cash and ensuring its secure availability when and where people need it. Security Paper & Print (Currency) 02 As one of the world’s leading commercial producers of banknotes we enable some 20-30 billion banknotes in circulation around the world to be spent with confidence.
    [Show full text]
  • Intergraf International Security Printers Conference Copenhagen 22 to 24 April 2015
    INFOSECURA A magazine for the security printing industry worldwide, published four times a year by Intergraf in Brussels and mailed to named members of the security printing community, such as security printers, their suppliers, banknote issuing, government and postal authorities as well as police forces in more than 150 countries. Intergraf International Security Printers Conference Copenhagen 22 to 24 April 2015 In this issue: A look at security features on banknotes Poland’s first polymer banknote Designing Norway’s new banknotes Banknotes: Under- or over-featured? Motion’s Rapid move An even livelier Spark and ...security features from G&D and DLR INTERGRAF November 2014- 18th year - Number 62 INFOSECURA EDITORIAL Unforgeable, verifiable and economical? The subject of this issue of Infosecura is the everyday use of currency and thus the banknotes, or more precisely, security fea- national economy, will not be affected. Mo- tures on banknotes. In the last decades, rocco thus gave Landqart’s Durasafe a start. banknotes have become very sophisticated Now Poland, as the second among Europe- and every time a central bank decides to an nations, is testing the water with the 20 issue a new series, not only will the design Złoty banknote printed on Innovia’s Guard- be on an artistically higher level, the security ian. (Rumania was the first European country features will be more advanced, much more to go totally “Polymer”.) difficult to counterfeit and probably more Alternative substrates aside, the idea be- expensive as well. hind the impromptu investigation into the se- Security features are developed by se- curity features used by a handful of different curity printers and banknote paper makers countries was to demonstrate that traditional on the one hand - we are bringing examples security features still hold a large and impor- from De La Rue and Giesecke & Devrient tant place on the world’s currencies.
    [Show full text]
  • Spectra Launches Machine Readable Polymer Substrate
    VOLUME 17 – NO 8 / AUGUST 2019 Spectra Launches Machine Green Light for G4S Demerger Readable Polymer Substrate G4s has used its interim results to state that the review of its options for the separation of its Cash Solutions and Security Solutions business, first announced last December, is now complete, and the board has approved the separation. Plans have now been set in motion for the demerger of Cash Solutions in the first half of 2020. According to the company, ‘we believe that will create two strong, focused businesses, each with the clear potential to capitalise on market leading positions and to unlock substantial value for customers, employees and shareholders’. Since last December, G4S has received a number of unsolicited expressions of interest from third Spectra Systems Corporation (Spectra) matching sensors that detect only that parties to acquire parts or all of the – a supplier of covert features and taggant, so there can be no confusion Cash Solutions business, including sensors for the currency industry – has with another country’s banknotes. As one from rival Garda. It states that announced that it has executed a 10 counterfeit banknotes lack the taggant, they it has actively engaged with these year supply agreement, renewable by can immediately be detected in the central parties and will continue to evaluate mutual consent, with a multi-billion bank’s banknote processing systems. proposals alongside the implementation dollar, multi-national, global supplier of In cotton based substrates, the amount of of the demerger plan, albeit with biaxially oriented polypropylene (BOPP) taggant used is generally strictly controlled no assurances that any third party with significant operations in the USA for in the paper production process to match proposals will lead to a transaction.
    [Show full text]
  • De La Rue Annual Report 2002 Annual Report 2002
    De La Rue Annual Report 2002 Annual Report 2002 Heading De La Rue plc De La Rue House Jays Close Viables Basingstoke De La Rue Hampshire RG22 4BS Secure transactions for governments, banks and commercial institutions T +44 (0)1256 605000 F +44 (0)1256 605336 www.delarue.com De La Rue Annual Report 2002 65 Financial Highlights Shareholders’ Information 2002 2001 110000000000000001111111 01 Turnover – continuing operations £641.7m £517.4m – discontinued operations £9.5m £7.4m Registered Office Registrar 110000000000000001111111 01 De La Rue House Computershare Investor Services PLC £651.2m £524.8m Jays Close, Viables, Basingstoke The Pavilions Hampshire RG22 4BS Bridgwater Road Telephone: +44 (0)1256 605000 Bristol BS99 7NH Operating profit* – continuing operations £77.6m £68.4m Fax: +44 (0)1256 605336 Telephone: +44 (0)870 702 0000 – discontinued operations (£1.4m) (£1.5m) Registered Number 3834125 Fax: +44 (0)870 703 6101 110000000000000001111111 01 Company Secretary: Miss C L Fluker 000000000000000000 £76.2m £66.9m Shareholder enquiries and holder amendments Profit before tax* and exceptional items £90.6m £78.3m Enquiries regarding shareholdings or dividends should, in the first instance, be addressed to Computershare Investor Services PLC. Details of your shareholding and how to make amendments to your details can be viewed on-line at www.computershare.com Headline earnings per share** 34.4p 30.9p 000000000000000000 Dividend per share 13.4p 12.6p Electronic communications Net funds £50.0m £36.1m You can register on-line at www-uk.computershare.com/investor to stop receiving statutory communications through the post. If you choose this option you will receive an e-mail notification each time we publish new shareholder documents on our website and you will be able to download and read them at your own convenience.
    [Show full text]
  • De La Rue Annual Report 2018
    A MORE SECURE WORLD De La Rue plc Annual Report 2018 De La Rue Annual Report and Accounts 2018 Inside this year’s Annual Report 0252 99 Strategic report Corporate governance Accounts 02 Financial highlights 52 Chairman’s introduction 99 Independent auditor’s report 02 Introduction from the Chairman 54 Leadership 106 Group income statement 04 Our business at a glance 62 Effectiveness 107 Group statement of 05 Our global footprint – Nomination Committee report comprehensive income 06 Our role in the world economy 66 Accountability 108 Group balance sheet 14 Our markets – Audit Committee report 109 Group statement of changes in equity 18 Our business model – Risk Committee report 110 Group cash flow statement 20 The resources we rely on – Ethics Committee report 111 Accounting policies 22 Our fundamental plan 74 Directors’ remuneration report 114 Notes to the accounts 23 Chief Executive Officer’s review 95 Directors’ report 152 Company balance sheet 29 Operational and financial review 153 Company statement of changes in equity 34 How we performed 154 Accounting policies – Company 36 Risk and risk management 155 Notes to the accounts – Company 42 A responsible business 157 Non-IFRS measures 158 Five year record 159 Shareholders’ information 04 06 Our business at a glance OUR ROLE Currency IN THE WORLD £371.8m Revenue £45.1m Adjusted operating profit* ECONOMY Identity Solutions £82.0m Revenue £8.3m Adjusted operating profit* Product Authentication & Traceability £40.1m Revenue £9.4m Adjusted operating profit* Q&AQ&A 34 23 How we performed Chief Executive Officer’s review Revenue £m 2018 493.9 2017 461.7 2016 454.5 2015 422.8 We made good 2014 460.1 progress in our strategic plan £493.9m in the year.
    [Show full text]
  • Spectra Launches Machine Readable Polymer Substrate
    VOLUME 17 – NO 8 / AUGUST 2019 Spectra Launches Machine Green Light for Readable Polymer Substrate G4S Demerger G4s has used its interim results to state that the review of its options for the separation of its Cash Solutions and Security Solutions business, first announced last December, is now complete, and the board has approved the separation. Plans have now been set in motion for the demerger of Cash Solutions in the first half of 2020. According to the company, ‘we believe that will create two strong, focused businesses, each with the clear potential to capitalise on market leading positions and to unlock substantial value for customers, employees and shareholders’. Since last December, G4S has received a number of unsolicited expressions of interest from third Spectra Systems Corporation (Spectra) matching sensors that detect only that parties to acquire parts or all of the – a supplier of covert features and taggant, so there can be no confusion Cash Solutions business, including sensors for the currency industry – has with another country’s banknotes. As one from rival Garda. It states that announced that it has executed a 10 counterfeit banknotes lack the taggant, they it has actively engaged with these year supply agreement, renewable by can immediately be detected in the central parties and will continue to evaluate mutual consent, with a multi-billion bank’s banknote processing systems. proposals alongside the implementation dollar, multi-national, global supplier of In cotton based substrates, the amount of of the demerger plan, albeit with biaxially oriented polypropylene (BOPP) taggant used is generally strictly controlled no assurances that any third party with significant operations in the USA for in the paper production process to match proposals will lead to a transaction.
    [Show full text]
  • The Design of Euro Banknotes
    Heike Winter The design of euro banknotes. Drafts and design processes Money and Identity. Lectures about History, Design and Museology of Money [Proceedings of the 11th Meeting of the International Committee of Money and Banking Museums (ICOMON), Seoul, 2004] edited by Reiner Cunz Hannover 2007. pp.81-101 Downloaded from: www.icomon.org THE DESIGN OF EURO BANKNOTES Drafts and decision processes HEIKE WINTER, Frankfurt/Main (Germany)∗ We are familiar the final result: euro banknotes with windows and gateways on the front and bridges on the back. Windows and gateways symbolize the European spirit of openness and cooperation. The twelve stars of the European Union represent the dynamism and harmony of contemporary Europe. Bridges symbolize communication among the people of Europe and between Europe and the rest of the world. Austrian banknote designer Robert Kalina created the new European paper money. But what were the alternatives? Fig. 1. A view at the exhibition in the Bundesbank´s Money Museum (Geldmuseum der Deutschen Bundesbank) at Frankfurt/Main. The drafts of the new euro banknotes were put on public view for the first time at the Money Museum of the Deutsche Bundesbank between 8 October 2003 and 23 January 2004. The public viewing was set up by the European Central Bank * Heike Winter was head of the Bundesbank´s Money Museum until 2007. 81 Winter Design of euro banknotes (ECB) as a touring exhibition to be displayed by national central banks in various European countries. The 44 draft designs were presented in illuminated stand­ alone display cases (100 cm × 100 cm). Reproductions of each of the 44 proposals for the seven denominations – both front and back – were displayed along with a description of the design ideas.
    [Show full text]
  • De La Rue Plc Annual Report 2020
    Annual Report 2021 De La plc Rue De La Rue plc Annual Report 2021 Annual Report 2021 01. STRATEGIC REPORT 1 At a glance 2 Chairman’s statement 4 CEO review 6 Our markets 10 Our business model 12 Our strategy 16 Review of operations 18 Financial review 21 Key performance indicators 25 Risk and risk management 26 Responsible business 31 Section 172 Statement 44 02. CORPORATE GOVERNANCE 46 Chairman’s introduction 48 Board of Directors 50 Nomination Committee 60 Audit Committee 62 Ethics Committee 68 Risk Committee 70 Remuneration 71 Directors’ report 90 Directors’ responsibility statement 95 03. FINANCIAL STATEMENTS 96 Independent auditor’s report 98 Consolidated income statement 106 Consolidated statement 107 of comprehensive income Consolidated balance sheet 108 Consolidated statement of changes in equity 109 Consolidated cash flow statement 110 Accounting policies 111 Notes to the accounts 119 Company balance sheet 162 Company statement of changes in equity 163 Accounting policies – Company 164 Notes to the accounts – Company 166 Non-IFRS measures 168 Five year record 171 Shareholder information 172 Featured image glossary 174 De La Rue Annual Report 2021 1 Strategic reportStrategic Our purpose – securing trust between people, businesses and governments De La Rue Annual Report 2021 At a glance Our business and performance Currency 2 Adjusted revenue £286.6m (+1.8%) IFRS revenue £295.7m (-6.2%) Banknotes Polymer Security Features We design, manufacture and deliver We are the only vertically integrated producer We create features that underpin
    [Show full text]
  • Annual Report 2006 Highlights
    Annual Report 2006 Highlights – Profit before tax and exceptional items* from continuing operations up 16.9 per cent to £76.2m (2004/2005 : £65.2m) – Profit before tax up 81.5 per cent to £73.7m (2004/2005 : £40.6m) – Operating margins* improved by 2.6 percentage points to 11.4 per cent (2004/2005 : 8.8 per cent) – Strong cash generation. Operating cash flow was up 8.1 per cent to £106.7m (2004/2005 : £98.7m) – Closing net cash of £91.6m after capital returns of £103.6m through ordinary dividends, a special dividend and share buy back programme – Increase in the final dividend of 11.3 per cent to 11.8p per share, bringing the full year dividend to 17.0p per share, an increase of 11.1 per cent in the year (2004/2005 : 15.3p) – Intention to continue share buy back programme *before net exceptional charges of £2.5m (2004/2005 : £24.6m). Profit before tax, Headline basic earnings Dividends per share† exceptional items and per share (pence) goodwill amortisation (pence) (£m) 76.2 31.4 17.0 15.3 65.2 25.9 14.2 58.7 24.2 03/04 04/05 05/06 03/04 04/05 05/06 03/04 04/05 05/06 †includes proposed final dividend. Contents 01 Our Strategic Progress 30 Corporate Governance 86 Five Year Record 04 Chairman’s Statement 35 Remuneration Report 87 Independent Auditor’s Report – 06 Operating and Financial Review 43 Independent Auditor’s Report – Company 08 – De La Rue Today Group 88 Company Balance Sheet 10 – Security Paper and Print 44 Group Income Statement 89 Accounting Policies – Company 12 – Cash Systems 45 Group Balance Sheet 90 Notes to the Accounts
    [Show full text]
  • De La Rue Initiation of Coverage
    De La Rue Initiation of coverage Keeping it real Support services 14 January 2019 De La Rue continues to pursue a strategy that is transitioning the company to a less capital-intensive operation with a more diverse customer base Price 428p and revenue streams, incorporating more embedded technology and IP. Market cap £439m Underlying progress is apparent although masked by the disposals and the recent loss of the UK passport contract. The strengthening of the Net debt (£m) at 30 September 2018 94.3 balance sheet enables appropriate M&A to augment what we expect to be a Shares in issue 102.6m resumption of organic sales growth from FY21. The current rating implies scepticism but this should improve as growth prospects are recognised. In Free float 99.6% the meantime, the healthy dividend yield provides support for investors. Code DLAR Primary exchange LSE Revenue PBT* EPS* DPS P/E Yield Secondary exchange N/A Year end (£m) (£m) (p) (p) (x) (%) 03/17 461.7 58.7 47.0 25.0 9.1 5.8 Share price performance 03/18 493.9 53.4 42.9 25.0 10.0 5.8 03/19e 509.9 55.5 44.5 25.0 9.6 5.8 03/20e 506.5 55.5 44.3 25.0 9.7 5.8 Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments. Countering the counterfeiters De La Rue is the largest commercial banknote printer globally and has designed 36% of all the banknote denominations in circulation.
    [Show full text]
  • Just a Banknote? Contents
    De La Rue Annual Report 2004 Just a banknote? Contents REVIEWS 2 De La Rue Trading and Operating Summary 2004 3 Chairman’s Statement 4 Chief Executive’s Review 6 De La Rue today 8 Operational Reviews – Security Paper and Print – Cash Systems 16 Financial Review 18 Environment, Health and Safety 22 Directors and Secretary FINANCIALS 23 Directors’ Report 26 Corporate Governance 31 Remuneration Report 37 Auditors’ Report 38 Group Profit and Loss Account 39 Balance Sheets 40 Group Cash Flow Statement 41 Group Statement of Recognised Gains and Losses/ Reconciliation of Movements in Shareholders’ Funds 42 Accounting Policies 44 Notes to the Accounts 65 Principal Subsidiaries, Branches and Associated Companies 67 Five-Year Record 68 Shareholders’ Information 1 Just a banknote? Just think again. A De La Rue banknote is a highly sophisticated item of portable technology. It is secure: its authenticity is assured using a range of security features from tonal watermarks to sophisticated security threads and specialist inks. Many banknotes now incorporate holographic devices to help the public test authenticity. It is durable: tough enough to endure the rigours of life in circulation thanks to the use of cotton-based paper. Cotton fibres give banknote paper its distinctive feel and the necessary characteristics to circulate efficiently through human hands, retailers’ tills, sorting machines and cash dispensers. It is distinctive: banknotes must be attractive as well as being secure and durable. De La Rue’s team of designers work closely with our customers and technical staff to achieve the optimum balance between these differing requirements. And De La Rue does not just produce banknotes.
    [Show full text]
  • De La Rue Annual Report 2003 Secure Transactions for a Changing
    De La Rue Annual Report 2003 De La Rue Annual Report 2003 De La Rue plc Secure transactions for a changing world De La Rue House Jays Close Viables Basingstoke Hampshire RG22 4BS T +44 (0)1256 605000 F +44 (0)1256 605004 www.delarue.com Shareholders’ Information Annual General Meeting The Annual General Meeting will be held at 12 noon on Thursday 17 July 2003 at Winchester Guildhall, The Broadway, Contents Trading Summary Registered Office Winchester, Hampshire SO23 9LJ UK. Each shareholder is De La Rue House entitled to attend and vote at the meeting, the arrangements for 2003 2002 Reviews Jays Close, Viables, Basingstoke which are described in a separate notice to shareholders. 1 De La Rue 2003 Turnover – continuing operations £582.7m £641.7m Hampshire RG22 4BS UK 2 Our Business in 2002/2003 – discontinued operations – £9.5m Telephone: +44 (0)1256 605000 Dividend Payments 4 Review: Secure £582.7m £651.2m Fax: +44 (0)1256 605336 Final 8 August 2003 Transactions for a Registered Number 3834125 Record Date 11 July 2003 Changing World Operating profit*– continuing operations £38.0m £77.6m Company Secretary: Miss C L Fluker Ex-Dividend Date 9 July 2003 12 Chairman’s Statement – discontinued operations – (£1.4m) Interim January 2004 13 Chief Executive’s Review £38.0m £76.2m Registrar 16 Operational Reviews Computershare Investor Services PLC Results Announcements Profit before tax* and exceptional items £48.1m £90.6m – Security Paper and Print The Pavilions Final Results May Headline earnings per share 18.9p 34.4p – Cash Systems Bridgwater Road
    [Show full text]