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 expectations1.
The Group delivered strong cash generation in the final quarter. Net debt at the end of December 2020 was circa £110 million.
Devro will announce its results for the year ended 31 December 2020 on 2 March 2021.
Contacts:
Devro plc
| Rutger Helbing | Chief Executive Officer | Tel: 020 3865 7637 |
| Rohan Cummings | Chief Financial Officer | |
FTI Consulting
| Richard Mountain / Nick Hasell
|
| Tel: 020 3727 1340 |
1 Company compiled consensus 2020 operating profit range between £38.0 and £40.5 million
ENDS
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