Devro builds on emerging markets

DEVRO, the Moodiesburn-based sausage skin maker, yesterday reported "profitable growth" in most of its markets over the past four months.

In a short trading update, the company, which noted it was performing in line with expectations, said that although developed markets were quieter than in the first half of its year most emerging markets, apart from China, were showing strong growth.

Average selling prices were also higher than the same period last year and the group said it was seeing some benefit from foreign currency movements. Total capital expenditure for 2010 will be around 30 million.

Devro reported that it had reached agreement with current and former staff over pension scheme increases which will reduce its liabilities by approximately 19m. Shares in Devro closed down 1.9p at 238.1p.