21st Oct 2014 08:02
LONDON (Alliance News) - Devro PLC on Tuesday said it was trading in line with expectations, and affirmed its full year outlook as it said it was seeing signs of an improvement in demand.
The collagen products manufacturer for the food industry said trading since July 1 has been in line with expectations, with sales volumes up year-on-year in both of the last two quarters. It said it was seeing an improvement in demand across its business, with volumes increasing in particular in its Chinese, Japanese and German markets.
It added inventory levels were reducing in line with expectations.
Devro said its investment plans in China and the US were continuing in line with expectations and it has now started the work on replacing its existing facility in South Carolina.
It added the restructuring of its operations in Scotland was completed on schedule and said the second phase of this work is due to complete in the first quarter of 2015.
Devro said its outlook on its full year results remains unchanged.
Shares in the company were up 2.7% to 241.75 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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