Belfast Telegraph

Banknote printer woes cost £35m

Banknote printer De La Rue warned of a hefty profits blow as it revealed investigations into its recent production crisis found staff had "deliberately falsified" documents.

The group, which prints notes for the Bank of England and 150 other countries, claimed some employees at its UK factory in Overton, Hampshire, falsified paper specification test certificates for some customers.

De La Rue has passed its findings on to the Serious Fraud Office and said it was taking disciplinary action against those involved, with a new managing director brought in for the currency division.

But the world's biggest banknote printer cautioned that the production woes would cost it at least £35m in lost profits for the half year to the end of September as sales volumes were also affected.