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27 Feb 2019 | 08:37

De La Rue signs £3.5m contract with HMRC to support crackdown on illegal tobacco trade

De La Rue said Wednesday it had signed £3.5m contract with Her Majesty's Revenue & Customs to implement a track and trace system for all tobacco products sold in the UK.

The five-year contract would see De La Rue implement a digital solution to track and trace the about 1.7bn cigarette and hand rolling tobacco packs sold in the UK each year 'through a unique identifier,' the company said. Ensuring the traceability of all tobacco products was now a legal requirement under the EU Tobacco Products Directive, Article 15, with the specific aim of 'preventing the illicit trade of tobacco products throughout the EU and protecting citizens from counterfeit products which could be damaging to their health,' it added. As part of the contract, De La Rue would also manage the service for HMRC with all tobacco manufacturers, importers and relevant economic operators serving the UK tobacco products sector.

At 8:37am: (LON:DLAR) De La Rue PLC share price was -9.25p at 409.75p

Story provided by StockMarketWire.com
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