Devro PLC Trading Update (0134X)
April 25 2019 - 1:00AM
UK Regulatory
TIDMDVO
RNS Number : 0134X
Devro PLC
25 April 2019
25 April 2019
Devro plc
Trading Update
Devro plc ("Devro" or the "Company"), one of the world's leading
manufacturers of collagen products for the food industry, issues
the following trading update for the period 1 January 2019 to the
current date ("the period"), ahead of its Annual General Meeting to
be held at 11.00am today.
Trading in the period was in line with the Board's expectations,
with momentum building through the quarter after a slower start to
the year.
We continue to see good trading in North America, South East
Asia and China, offset by ongoing challenging conditions in Russia,
Japan and Latin America. As previously indicated, we expect 2019
revenue growth to be H2 weighted, as it will benefit from the build
in sales of Fine Ultra, as well as underlying market growth.
Our cost saving initiatives are on track and we are confident of
being able to meet the previously outlined targets.
Devro remains well placed to make good progress during 2019.
Chairman Search
As announced on 15 November 2018, Gerard Hoetmer will retire as
Chairman and Director of the Company at the conclusion of today's
Annual General Meeting. The search for a new Chairman is well
advanced and the Board anticipates an announcement will be made in
the near future. Current Senior Independent Director, Paul Withers,
will serve as interim Chairman from the conclusion of today's
Annual General Meeting until the new Chairman is appointed.
ENDS
Contacts:
Devro plc
Rutger Helbing Chief Executive Officer Tel: 020 3865 7637
Jackie Callaway Chief Financial Officer Tel: 020 3865 7637
FTI Consulting
Richard Mountain / Nick Tel: 020 3727 1340
Hasell
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END
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