BANKNOTE MAKER DE LA RUE SAYS DEMAND STRONG

Troubled banknote maker De La Rue has said demand for its currencies remains strong, even as people switch to card payments to slow the spread of coronavirus.

The company, which prints notes for the Bank of England, said it had contracts in place that would keep its currency factories working at high capacity for the rest of the year.

"In currency, De La Rue is experiencing strong demand that has continued during the Covid-19 pandemic and has been awarded contracts representing approximately 80% of its available full-year currency printing capacity," managers said.

People around the world are opting to pay by card, especially through contactless methods when possible, to avoid handing over, and receiving, potentially contaminated cash.

Last week, PayPoint revealed that the card payments it processes had shot up by three quarters, while transactions at its cash machines fell by 40% compared with this time last year.

Apart from one site in Sri Lanka, which stopped production for eight weeks, all the company's factories have remained open throughout the pandemic.

Nor has it seen "material problems" in getting materials from suppliers.

De La Rue also revealed a new five-year contract with the Australian government to print pages for the country's new passport.

To read the complete article, see:
Demand for cash printers remains strong, says banknote maker De La Rue (https://uk.finance.yahoo.com/news/demand-cash-printers-remains-strong-091947426.html)

	NBS (coinbooks.org) Web