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De La Rue puts animal-fat-free £20 note on cards

Lean looking: Bank Governor Mark Carney tests polymer £5 note at Whitecross Street Market: Getty Images
Lean looking: Bank Governor Mark Carney tests polymer £5 note at Whitecross Street Market: Getty Images

Printer De La Rue will launch a plastic banknote that is free of animal fat this summer after the controversial launch of the £5 note.

The 196-year-old group is in the running to print the new £20 polymer note, due for launch in 2020, and plans to offer prospective customers, including the Bank of England, the chance to ditch the animal fat.

“We are working to produce two versions of the polymer note so that [central bank] customers will have a choice,” chief executive Martin Sutherland said.

“We are running trials to use an alternative additive to put in to make an animal-fat-free version for the market.”

The Bank was hit by protests last year after the plastic note material for the £5 and £10 note — made by De La Rue’s Canadian rival Innovia — was found to contain traces of tallow, a by-product of beef and mutton fat.

The Bank, led by Mark Carney, is currently consulting on plans to ditch tallow in the new £20 note. It intends to report this summer, and restart the tender for £20 production.

Polymer volumes for the firm almost quadrupled to 380 tonnes from 100 tonnes last year. Overall full-year revenues rose 2% to £461.7 million and adjusted pre-tax profits were flat at £58.7 million.