DVO Devro Plc

TIDMDVO

RNS Number : 9290L

Devro PLC

18 January 2021

18 January 2021

Devro plc

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 year ended 31 December 2020.

Trading in the final months of 2020 was slightly ahead of management's expectations, driven by higher volumes and margins. As such, the expected outturn for Group underlying operating profit, subject to audit, is around the upper end of current analyst expectations (1) .

The Group delivered strong cash generation in the final quarter. Net debt at the end of December 2020 was circa GBP110 million.

Devro will announce its results for the year ended 31 December 2020 on 2 March 2021.

Contacts :

Devro plc

 
 Rutger Helbing   Chief Executive   Tel: 020 3865 7637 
                   Officer 
 Rohan Cummings   Chief Financial 
                   Officer 
 

FTI Consulting

 
 Richard Mountain /     Tel: 020 3727 1340 
  Nick Hasell 
 
   (1)   Company compiled consensus 2020 operating profit range between GBP38.0 and GBP40.5 million 

ENDS

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January 18, 2021 02:00 ET (07:00 GMT)

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