Devro, which makes manufactured casings such as sausage skins for the food industry, said sales growth continued in the year to date as demand from Eastern Europe, Russia, Japan, SE Asia and Latin America offset slower demand from the UK.
Sales of its premium Select range continue to increase in Japan and Europe and represent a growing proportion of the group's edible collagen sales, it said.
"Manufacturing performance was slightly below expectations early in the year, but recent performance is much improved. The newly installed lines in Scotland are in full production and product development work continues on the new line in the US", the group explained in a company statement ahead of its AGM.
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
Devro added its financial position continues to be strong and it remains confident it will meet company expectations for the full year.
Capital investment in additional capacity in the Czech Republic is proceeding as planned.
Chief executive Peter Page commented, "The continued growth in volume and value of sales, across a wide variety of markets, is most encouraging and reflects well on our strategy for long-term growth."
CJ
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
