LONDON (Alliance News) - Devro PLC Tuesday said trading has continued in line with the board's expectations since July 1 and its outlook for the full year remains unchanged, as its finance director resigns.
Devro, which manufactures collagen products for the food industry, said sales volumes grew in the third quarter, with particularly strong performances in Japan, North America and China.
It added that its two major investment projects to build plants in the USA and China are proceeding well. Construction and equipment installation at the US plant is now complete and commercial production is expected at the start of 2016.
The new building in China is also complete and equipment installation is well advanced, with the factory on track to deliver commercial product in the latter part of 2016.
In a separate statement, Devro announced that Group Finance Director Simon Webb will retire from his role by the end of November 2016. He will remain with the company until a new successor has been appointed. The process of identifying said successor has now started.
Shares in Devro were trading down 0.4% at 290.45 pence Tuesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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