29th Apr 2015 08:42
LONDON (Alliance News) - Devro PLC Wednesday said total sales volumes for the period from January 1 showed year-on-year growth for the fourth successive quarter, following strong performances in China, Japan, Germany and North America.
Devro, which manufactures collagen products for the food industry, said trading has continued in line with its expectations, and although "currency continues to be a headwind against the prior year", remains confident in the outlook for 2015.
The company said its investment projects of building new plants in China and the US continue to progress well, with production due to commence in 2016. The restructuring of its operations in Scotland and Australia also has been completed as planned, and is on track to deliver annual cost reductions of GBP5 million in 2015, it said.
Shares in Devro were trading up 0.4% at 291.00 pence Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DVO.L