SAUSAGE skin-maker Devro has reported “encouraging” trading and greater growth in the four months to the end of October.
It reported that mature markets were strong with continued growth in North America and also improved sequential trends in Europe and UK and Ireland, but flagged inflationary pressures which it said could affect pricing. The Lanarkshire-based business also noted global supply chain issues.
It said that trading in the period has been encouraging, with constant currency revenue growth above that seen in the first half of 2021, “reflecting the successful execution of our growth strategy delivering volume growth, higher prices and improved mix”.
Emerging market growth was particularly strong in Latin America and Middle East and Africa, it said.
Devro said: “While the group is experiencing inflationary pressure this is being mitigated through pricing action and tight cost management.
“As previously highlighted the company is seeing the impact of strengthening foreign exchange headwinds with the adverse year on year impact expected to be £3 million on full year operating profit.”
It remains "alert to supply chain challenges".
Shares in Devro closed up 1p at 219p.
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