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Full Year Trading Update

20 Jan 2023 07:00

RNS Number : 3312N
Devro PLC
20 January 2023
 

Devro plc

 

Full Year 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 period 1 January to 31 December 2022 ("period").

Current trading

The Group traded well throughout the period with reported revenue of circa £290m reflecting growth of around 15% (11% at constant currency) compared to 2021. Constant currency revenue growth was driven by higher pricing, reflecting successful recovery of cost inflation, as well as good volume increases particularly in our mature markets.

The second half of the year delivered strong operating margins, reflecting the benefits of management's pricing actions, operating efficiency and foreign exchange tailwinds. 

As a result, adjusted operating profit is anticipated to be ahead of the Board's expectations, subject to any audit adjustments.

Financial position

Cash generation in the period remained robust, despite higher working capital and capital expenditure to facilitate further growth, with Group covenant net debt of around £90m at year end.

ENDS

Contacts:

Devro plc

Chris Dyett

Tel : 07974 974 690

Investor Relations

 

FTI Consulting

Richard Mountain

Tel: 07909 684 466

 

 

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END
 
 
TSTSFSESUEDSEFF
Date   Source Headline
28th Feb 202310:37 amGNWForm 8.3 - [Devro plc - 27 02 2023] - (CGWL)
28th Feb 20239:34 amRNSForm 8.3 - Devro Plc
27th Feb 20235:08 pmRNSForm 8.5 (EPT/RI)Devro plc- Amend
27th Feb 20233:30 pmGNWForm 8.3 - Devro plc
27th Feb 20233:20 pmRNSForm 8.3 -Devro plc
27th Feb 202311:42 amRNSForm 8.5 (EPT/RI)-Devro plc
27th Feb 202310:06 amRNSForm 8.3 - DEVRO PLC
27th Feb 20239:39 amRNSForm 8.3 - Devro Plc
27th Feb 20238:12 amRNSForm 8.3 - Devro plc
24th Feb 20233:20 pmRNSForm 8.3 - Devro plc
24th Feb 20231:47 pmRNSForm 8.5 (EPT/RI) - Devro plc Amend
24th Feb 20231:45 pmRNSForm 8.5 (EPT/RI) - Devro plc Amend
24th Feb 20231:30 pmBUSForm 8.3 - DEVRO PLC
24th Feb 20231:04 pmEQSForm 8.3 - The Vanguard Group, Inc.: Devro plc
24th Feb 202311:21 amRNSForm 8.3 - DEVRO PLC
24th Feb 202311:06 amBUSForm 8.3 - Devro plc
24th Feb 202310:56 amRNSForm 8.3 - Devro Plc
24th Feb 202310:48 amRNSForm 8.5 (EPT/RI) - Devro plc
24th Feb 202310:03 amRNSForm 8.5 (EPT/RI) - Devro PLC
24th Feb 20239:33 amRNSForm 8.5 (EPT/RI)-Devro plc Amend
23rd Feb 20233:20 pmRNSForm 8.3 - Devro plc
23rd Feb 20232:47 pmRNSForm 8.3 - Devro plc
23rd Feb 20231:43 pmGNWForm 8.3 - [Devro plc - 22 02 2023] - (CGWL)
23rd Feb 20231:16 pmEQSForm 8.3 - The Vanguard Group, Inc.: Devro plc
23rd Feb 202311:24 amRNSForm 8.3 - Devro Plc
23rd Feb 202311:09 amRNSForm 8.3 - DEVRO PLC
23rd Feb 202311:08 amRNSForm 8.5 (EPT/RI)-Devro plc
23rd Feb 20239:53 amRNSForm 8.5 (EPT/RI) - Devro PLC
23rd Feb 20239:23 amRNSForm 8.3 - Devro plc
23rd Feb 20237:25 amRNSForm 8.3 - DEVRO PLC Amendment
22nd Feb 20234:27 pmRNSForm 8.5 (EPT/RI) - Devro plc Amend
22nd Feb 20232:55 pmRNSForm 8.3 - Devro plc
22nd Feb 20231:30 pmBUSForm 8.3 - DEVRO PLC
22nd Feb 20231:24 pmRNSForm 8.3 - DEVRO PLC
22nd Feb 202310:41 amRNSForm 8.5 (EPT/NON-RI) - Devro plc
22nd Feb 202310:39 amRNSForm 8.5 (EPT/NON-RI) - Devro plc
22nd Feb 202310:35 amRNSForm 8.5 (EPT/RI) - Devro plc
22nd Feb 20238:14 amRNSForm 8.3 - Devro Plc
22nd Feb 20237:00 amRNSForm 8.3 - Devro plc
22nd Feb 20237:00 amRNSForm 8.5 (EPT/RI)-Devro plc Amend
22nd Feb 20237:00 amRNSForm 8.5 (EPT/RI)-Devro plc Amend
21st Feb 20236:29 pmRNSForm 8.5 (EPT/RI) - Devro plc Amend
21st Feb 202312:21 pmRNSForm 8.3 - DEVRO PLC
21st Feb 202311:43 amRNSForm 8.3 - Devro plc
21st Feb 202311:30 amRNSForm 8.5 (EPT/RI)-Devro plc
21st Feb 20239:07 amRNSForm 8.3 - Devro plc
21st Feb 20238:44 amRNSForm 8.3 - Devro Plc
20th Feb 20233:20 pmRNSForm 8.3 - Devro plc
20th Feb 20231:30 pmBUSForm 8.3 - DEVRO PLC
20th Feb 202312:40 pmEQSForm 8.3 - The Vanguard Group, Inc.: Devro plc

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