25 Apr 2018 07:00
25 April 2018
Devro plc
Trading Update
Devro plc, one of the world's leading manufacturers of collagen products for the food industry, issues the following trading update for the period 1 January 2018 to the current date ("the period"), ahead of its Annual General Meeting to be held at 11.00am today.
Trading for the period was in line with the Board's expectations. The Devro 100 programme continues to progress well, with actions on track to deliver the targeted cost savings for the year. As part of the phased plan to achieve the targeted levels of productivity and output efficiencies at our US plant, good progress was made during the period. Our China plant continues to perform well. As previously indicated our focus now is on improving the pricing for the products from this plant, and progress was made during the period.
Whilst recognising the ongoing pressures from input cost inflation and exchange rate volatility, the Board remains confident that Devro is well placed to make good progress in 2018.
ENDS
Contacts:
Devro plc
Rutger Helbing | Chief Executive | Tel: 020 3865 7637 |
Matthew Peacock | Interim Group Finance Director | Tel: 020 3865 7637 |
FTI Consulting
Richard Mountain / Nick Hasell | Tel: 020 3727 1340 |