DEVRO, the sausage skin manufacturer, has reported volume growth for a fourth successive quarter, driven by strong performances in China, Japan, Germany and North America.
The Glasgow-based company said operating cash flow has been strong since January 1, with net debt rising in line with expectations as it invests millions of pounds in new plants in China and the US. The plants are due to come on stream this year and next respectively.
Devro axed 130 staff in Scotland last year as it replaced inefficient plant in Moodiesburn and Bellshill with new technology.
The firm said the restructuring, along with steps to strip out costs in Australia, will result in savings of £5 million this year.
All resolutions at the company's annual general meeting in Glasgow today were passed.
Shares closed down 0.5p at 289.25p.
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