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Trading update

18th Jan 2021 07:00

RNS Number : 9290L

Devro PLC

18 January 2021

Devro plc

Trading update

Devro plc ("Devro" or the "Group"), one of the world's leading manufacturers of collagen products for the food industry, issues the following trading update for the year ended 31 December 2020.

Trading in the final months of 2020 was slightly ahead of management's expectations, driven by higher volumes and margins. As such, the expected outturn for Group underlying operating profit, subject to audit, is around the upper end of current analyst expectations1.

The Group delivered strong cash generation in the final quarter. Net debt at the end of December 2020 was circa £110 million.

Devro will announce its results for the year ended 31 December 2020 on 2 March 2021.

Contacts:

Devro plc

Rutger Helbing	Chief Executive Officer	Tel: 020 3865 7637
Rohan Cummings	Chief Financial Officer

FTI Consulting

Richard Mountain / Nick Hasell

Tel: 020 3727 1340

1 Company compiled consensus 2020 operating profit range between £38.0 and £40.5 million

ENDS

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