Sausage skin maker Devro has reported that it is on course to meet board expectations for the current year.
Sales volumes have shown strong growth compared to the corresponding period last year, while the momentum seen in the second quarter has continued, helped by growth in Western Europe, Eastern Europe and Russia.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm's new co-generation plant in Australia will be commissioned by the end of the year, and the savings generated will partially offset the expected energy cost increases across the group in 2012.
In line with expectations, net debt has risen since 30 June, reflecting the substantial ongoing capital expenditure.
During the period three manufacturing locations achieved accreditation to FS22000, the international standard defining food safety management requirements for organisations in the food chain.
The previously announced the sale of Devro GmbH, the German distribution business, to ViskoTeepak was completed at the end of September 2011 for €1.9m.
The share price rose 1% to 252.2p by 16:18.
NR
-
73% of savers plan to rely on partner’s pension in retirementA new survey suggests the majority of people may lack financial independence in retirement, with almost three-quarters set to rely on their partner’s pension
-
How much you need to follow the 25x retirement rule – will you have enough to be financially independent?We explain what the 25x retirement rule is and the amount you would need to be financially independent in retirement.
