Devro sees 2016 profit in line with expectations

11th Jan 2017 09:21

(ShareCast News) - Devro said on Wednesday that underlying profit for the full year 2016 is expected to be in line with the board's views.The company, which manufactures collagen products for the food industry, said overall sales volume trends in the second half were broadly similar to those experienced in the first half.Improved performance in the second half in Russia, South East Asia and in particular in the fourth quarter in China, offset lower volumes related to product issues in Latin America and some volume reduction in North America due to customer de-stocking in the final quarter.In China, sales volumes in the second half were more than double those in the first, as capacity from the new factory came on stream.Full-year results are due on 6 March.At 0930 GMT, the shares were up 1.6% to 193p.