The banknote printer pinpointed a decline in trading volumes within its currency business unit, which accounts for a major part of De La Rue’s sales, for the drop from £528.3m the previous year. Basingstoke-based De La Rue has also previously cited additional capacity from other manufacturers, such as Germany’s Giesecke & Devrient and Oberthur in France, for the tougher trading conditions. As a result, the group has accelerated the “improvement plan” it launched in 2011 by increasing its cost-savings target by £10m to £40m for 2013/2014. This plan includes cost reduction measures, such as the consolidation of De La Rue’s Stroudley Road and Dunstable factories into its Westhoughton and Gateshead facilities, which is now complete and generating annual savings of £6m. Tim Cobbold, chief executive of De La Rue said the group delivered an operating profit of £63m “despite a much more challenging banknote paper market”. While underlying pre-tax profits were up 2% during the 12 months to £59.1m, this excludes the £7.6m cost associated with implementing the on-going improvement plan. Cobbold added: “Overall order intake reflected the difficult market conditions and an historically low level of overspill volume available to the commercial producers. “It was also impacted by the previously announced delay to a number of important orders, some of which have since been received.” De La Rue’s latest results come as its contract to print the UK’s banknotes remains in the balance after the Bank of England (BoE) issued a tender notice asking up to five operators to bid for the £1bn contract late last year. The contract, which could potentially run for up to 14 years, will start in April 2015 and sees alternative suppliers bidding to print up to 12bn banknotes at BoE’s Debden, Essex facility. De La Rue also remains blighted by the paper production problems that impacted the group in 2010, resulting in the departure of then chief executive, James Hussey. The group was forced to temporarily suspend aspects of its paper production at its largest plant in Overton, Hampshire, following the discovery of “quality and production irregularities” at the facility. In its latest results, De La Rue said that provisions have been made in previous years for the costs associated with the investigation and production surrounding the issue. However, it said that no provisions had been made for the “potential cost of resolutions or for potential fines from regulatory authorities”. The group added: “The nature and extent of these resolutions will be the subject of ongoing discussions, the outcome of which cannot be estimated reliably at present. “The timing, response and outcome of the consideration by the authorities of the reported findings of the investigation is also uncertain and the financial consequences,...

The banknote printer pinpointed a decline in trading volumes within its currency business unit, which accounts for a major part of De La Rue’s sales, for the drop from £528.3m the previous year. Basingstoke-based De La Rue has also previously cited additional capacity from other manufacturers, such as Germany’s Giesecke & Devrient and Oberthur in France, for the tougher trading conditions. As a result, the group has accelerated the “improvement plan” it launched in 2011 by increasing its cost-savings target by £10m to £40m for 2013/2014. This plan includes cost reduction measures, such as the consolidation of De La Rue’s Stroudley Road and Dunstable factories into its Westhoughton and Gateshead facilities, which is now complete and generating annual savings of £6m. Tim Cobbold, chief executive of De La Rue said the group delivered an operating profit of £63m “despite a much more challenging banknote paper market”. While underlying pre-tax profits were up 2% during the 12 months to £59.1m, this excludes the £7.6m cost associated with implementing the on-going improvement plan. Cobbold added: “Overall order intake reflected the difficult market conditions and an historically low level of overspill volume available to the commercial producers. “It was also impacted by the previously announced delay to a number of important orders, some of which have since been received.” De La Rue’s latest results come as its contract to print the UK’s banknotes remains in the balance after the Bank of England (BoE) issued a tender notice asking up to five operators to bid for the £1bn contract late last year. The contract, which could potentially run for up to 14 years, will start in April 2015 and sees alternative suppliers bidding to print up to 12bn banknotes at BoE’s Debden, Essex facility. De La Rue also remains blighted by the paper production problems that impacted the group in 2010, resulting in the departure of then chief executive, James Hussey. The group was forced to temporarily suspend aspects of its paper production at its largest plant in Overton, Hampshire, following the discovery of “quality and production irregularities” at the facility. In its latest results, De La Rue said that provisions have been made in previous years for the costs associated with the investigation and production surrounding the issue. However, it said that no provisions had been made for the “potential cost of resolutions or for potential fines from regulatory authorities”. The group added: “The nature and extent of these resolutions will be the subject of ongoing discussions, the outcome of which cannot be estimated reliably at present. “The timing, response and outcome of the consideration by the authorities of the reported findings of the investigation is also uncertain and the financial consequences,...

According to the Vancouver-based business, printers can cut up to 70% off their annual blanket spend by enlisting in the programme. This involves Enviro Image Solutions analysing unique physical damage on each press blanket in a bid to identify issues that reduce its life and production efficiency. It then makes “pressroom specific” recommendations to prevent the damage from recurring, allowing the blankets to be reused. Steve Johns, continuous improvement coordinator at Chesapeake Leicester, said: “We found each rejuvenated blanket can be renewed around 5 times. We aim to reduce blanket costs and general waste going to landfill.” Earlier this year Chesapeake had the world’s longest B1 Heidelberg press, comprising 17 units and an inline cold foiling option, installed at its East Kilbride facility. The XL 106 perfector arrived at the Scottish plant at the end of last year and has taken over three months to commission. The 17 units include 10 printing towers, three coaters and four drying units. The coating towers are installed both before and after the printing and perfecting section to enable Chesapeake to apply matt, gloss and pearlescent finishes both inside and outside...

According to the Vancouver-based business, printers can cut up to 70% off their annual blanket spend by enlisting in the programme. This involves Enviro Image Solutions analysing unique physical damage on each press blanket in a bid to identify issues that reduce its life and production efficiency. It then makes “pressroom specific” recommendations to prevent the damage from recurring, allowing the blankets to be reused. Steve Johns, continuous improvement coordinator at Chesapeake Leicester, said: “We found each rejuvenated blanket can be renewed around 5 times. We aim to reduce blanket costs and general waste going to landfill.” Earlier this year Chesapeake had the world’s longest B1 Heidelberg press, comprising 17 units and an inline cold foiling option, installed at its East Kilbride facility. The XL 106 perfector arrived at the Scottish plant at the end of last year and has taken over three months to commission. The 17 units include 10 printing towers, three coaters and four drying units. The coating towers are installed both before and after the printing and perfecting section to enable Chesapeake to apply matt, gloss and pearlescent finishes both inside and outside...

An annual event since its launch in 2011, this year’s iteration will be held at Apex Digital Graphic’s Hemel Hempstead showroom from 1 to 10 October and will feature a comprehensive exhibitor schedule and educational programme from industry experts. Also confirmed for the October residency are Vpress, KAS Paper Systems, PDC, Lake Image Systems, Shuttleworth Business Systems and Antalis McNaughton. Apex Digital Graphics managing director Bob Usher said: “Our inaugural involvement last year enabled us to meet many new contacts and generate significant leads – one of which was Geerings Print which has just installed a Ryobi 920. “The format allows us to have more detailed and rewarding conversations. It also enables us meet new operations that are interested in exploring how our technologies can help them.” The two-week showcase will feature live demonstrations of the new digital and litho printing technologies, as well as automated finishing equipment. Kodak UK marketing manager Dave McGuiness added: “It is a unique platform to meet with our customers and demonstrate real working solutions and production efficiencies in a far more hands-on and relaxed atmosphere than at exhibitions.”...