Noticed that this sausage skin maker reported yesterday. Good results, low debt and dividend yield of 8%. Looks tasty to me so I bought some more shares yesterday. Anyone else investing in this company? I heard rumours about a group called Acomita building a stake - anyone know what's happened to them?
TIA

"Devro keeps an eye on Acomita"

http://www.thescotsman.co.uk/business.cfm?id=308472003

Thanks for that Grouper, it's not easy to find information on these small caps in the FT which is why I've decided to try some of these internet BBs. I own a few shares in this company and get the feeling that they're now on the right track so I increased my holding about a week before results. I now have an average price of 66p per share so I'm hoping that I'll break even some time this year.

15 March 2003

Devro

Devro shares went from hot to dog after a profit warning in 1998, and has not switched back. The sausage skin-maker is back on even keel, having reduced debt. Competition also appears to have eased and trading started well this year. Acomita, a Swiss outfit with 14 per cent, could be a value investor, or a potential bidder. No harm in holding Devro shares.



http://money.independent.co.uk/personal_finance/invest_save/story.jsp?story=387152

From the Sunday Times.

March 16, 2003

Sharewatch: Swiss stalk Devro



Devro: Famous for making collagen and sausage skins, the share price of this Scots company has fallen from 93p to 41p in the past year. Its market value has slumped to 89m.

But a mixture of interest from a Swiss investment vehicle called Acomita, a slight rise in pre-exceptional profits announced last week and a near-halving of debts, helped Devro’s share price rise to 55.5p on Friday.

Devro said it does not know who is behind Acomita, which owns nearly 14% of the company. Graeme Alexander, chief executive of Devro, said it had invited Acomita to introduce itself — to no avail.

Since Acomita appeared on the share register in January, there has been speculation it might be a vehicle for a potential bid from another food manufacturer. Acomita appears to scent a bargain.

Profits before tax and exceptional items at Devro for 2002 were 15.5m, up from 15.2m the year before. Devro has also cut its debt from 60m to 35.2m.

Shares are rising steadily and Signal Seeker (TA program) just identified a double bottom and price target of 68-72p.

Signal Seeker
Technical Event Lookup
View Guide
Technical Events for Devro Int'l plc (DVO on London)


Event Date Complex Pattern Event Possible Target Price Range
14 Mar 2003 Double Bottom 55.50p 68.00p - 72.00p

I'm going to buy some more of these with my wages on Friday, just hope they stay below 60p until then.

Anyone 4 Sausages??!!??

on a breakout!!! keeps on rising.

unsubstantiated , but gossip of 140 bid on these this afternoon

Very solid results last week and price has responded accordingly.Manufacturer of collagen casings used primarily in food industry, but may have applications in other markets. Went through a bad patch a few years ago, but switch of some manufacture to Czech Republic has left a decent quality business with steady growth prospects. Excellent operational cash flow generator and increased dividend a sign of confidence. I bought for the first time last November (123p) and expect to hold within ISA for a number of years. Consider them likely to more than pay for their keep for the patient, but always DYOR

Devro DVO was churned out on my screener this morning with both fundies and TA looking rather solid at the moment.

Ive hopefully caught it with MACD turning positive to back up the Flag chart pattern on the SP chart.

Confident statement at AGM today reinforces my view that this is a quality business for the medium term, but always DYOR.

Excellent interim figures today - despite effect of increased sales on working capital, plus substantial cap ex on new plant/equipment, they have reduced debt significantly. Market looks good for the foreseeable future and benefits of that cap ex to come. Hefty increase in dividend a sign of confidence. Only negative for me is the size of the pension deficit. IMO a very good share for long term ISA but always DYOR.

Spendid progress since the 73p low of July 2008
Why did we not have more investment courage in that dark period

Wee Punt Long (SB) @ 234.2 tight stop.

First class set of results today - and they have addressed the pension scheme deficit referred to in post 14. A real quality business with good growth prospects. China remains an untapped market - although whether they would be able to cope without large injection of new capital is questionable. I have added more recently and they are locked away in my ISA, but always dyor.

Agreed partridge, a tuck away for me.

re;china - you would have noticed the director relocation, clearly made with the intent to gain a proper foothold in that market - I'm guessing via a Joint Venture or licensing deal, rather than an acquisition.

Obviously a massive positive for this share

Indeed, Joe. As in other areas previously, the management look to be assessing the options very carefully before making what will hopefully be the right decision (and track record suggests they will).

Decent IMS this week and brave decision to invest heavily so far on course. Sales in UK/Australia slightly lower against comparative period, but rest of world (approx 75% by my reckoning) growing nicely. Unexciting, but nothing wrong with that and imo a solid hold for the medium term. Currently quite heavy into sausages as I have quite high weighting in DVO and GRG! Always dyor.

Very pleased with DVO figures yesterday and market belatedly seems to have agreed. Locked away in ISA for long term growth. Always DYOR.

sausage-skin maker Devro was the biggest climber among the mid-cap stocks adding 5.8pc ahead of first-half results tomorrow.

+22.60 (+8.13%)

2012 Interim Results


http://www.moneyam.com/action/news/showArticle?id=4417938

Devro Chairman buys up despite profit warning
Mon 22 Oct 2012

LONDON (SHARECAST) - Steve Hannam, the Chairman of FTSE 250 sausage casing supplier Devro, has added to 12,594 shares to his and his wife's stake in the company on the same day the company warned that full-year operating profits will be slightly below expectations, although still ahead of last year.

Hannam purchased the shares at 317.61p each for a total of £40,000. He and his wife now hold 223,622 shares, equal to 0.135% of the issued share capital.

The firm blamed the decrease in expected profits on a number of factors, namely adverse currency movements, increased raw material costs and extended plant commissioning periods. It said it expects the trend of increased raw material prices to continue into next year.

Consensus forecasts for the full year ending December 31st are for pre-tax profits of £43.64m on turnover of £242.50m. Earnings per share are expected to come in at 21.15p, putting it on a price earnings ratio of 15.9.

In an interim management statement covering the period from July 1st to date, the firm was upbeat about turnover, saying: “Sales volumes have continued to grow across a wide range of markets, notably in Japan, Europe and the Americas, with sales of the premium ‘Select’ range continuing the momentum of the first half. Overall market demand remains strong both in established and emerging markets.”

IC, Full year figures 26 Feb - Should report a strong end to 2012 and possible potential forecast upgrades. Demand is strong in emerging markets as well as established ones such as Europe and Japan.

Devro: Societe Generale raises target price from 380p to 410p.

Driving up hard towards the full year figures on 26 Feb

RESULTS FOR THE YEAR ENDED 31 DECEMBER 2012

Financial highlights (continuing operations)

2012 Unaudited
2011

· Revenue
£241.1m
£227.7m
+5.9%
· Operating profit
£43.2m
£42.7m
+1.3%
· Cash generated from operations
£48.1m
£45.1m
+6.7%
· Profit before tax excluding pension interest
£42.2m
£41.9m
+0.8%
· Basic earnings per share excluding pension interest
20.7p
20.2p
+2.2%
· Total dividend per share
8.5p
8.0p
+6.3%

Operational highlights
· On a constant currency* basis revenue grew by 8.1% (compared with reported revenue growth of 5.9%)
· Continued strong sales growth in Japan, Europe and the Americas
· Select sales grew to 8.4% of total revenue (up from 4.3% in 2011)
· On a constant currency* basis operating profit grew by 5.2% (compared with reported operating
profit growth of 1.3%)
· Significant ongoing capital investment programme to deliver further capacity increase in 2013/2014
· Cash generation remains strong
*Constant currency growth rates are calculated by restating 2012 figures using 2011 exchange rates.

Other statutory financial highlights (continuing operations)
· Profit before tax of £40.8m (2011: £43.0m)
· Basic earnings per share of 20.0p (2011: 20.8p)

Devro: Investec moves target price from 355p to 387p and reiterates its buy recommendation

Another solid set of results imo. Margin improvement expected from price increases due this year, so 2013 should not disappoint. Pension deficit might become an issue, but holding mine for the longer term. Always dyor.

May have some effect.

Processed meat 'early death' link

Sausages, ham, bacon and other processed meats appear to increase the risk of dying young, a study of half a million people across Europe suggests.

As of Mar 15, 2013, the consensus forecast amongst 7 polled investment analysts covering Devro plc advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts improved on Nov 23, 2012. The previous consensus forecast advised investors to hold their position in Devro plc.


Ex-dividend Wednesday 27 March - 5.85p

Nice and steady

2013 Interim Results

About what was expected. Pleased no further bad news and management now has to show it can deliver in the second half. Still a number of potential obstacles (availability of raw materials, new plant coming on stream etc) but happy to give them the benefit of the doubt for the time being. Always dyor.

Punished after results this week - sell in Ukraine/Russia, cuurency headwinds and funding for cap ex on expansion into China yet to be finalised. Cash generation still strong and modest increase in dividend a sign of management confidence, which does not seem to be shared by the market. I will give them the benefit of the doubt, but always dyor.

RESULTS FOR THE YEAR ENDED 31 DECEMBER 2014

Transformation on track to support future growth

Devro plc ("Devro" or the "Group"), one of the world's leading manufacturers of collagen products for the food industry, is pleased to announce its results for the year ended 31 December 2014.


Operational highlights
· Performance was in line with expectations
· Sales volumes have shown steady recovery since end of first quarter and revenue for the year grew by 2% in constant currency*
· Operating profit before exceptional items lower than prior year primarily due to actions taken to restructure the business reducing profits by £6.6 million and adverse foreign exchange movements of £4.3 million
· Strong cash generation with operating cash flow before exceptional items up by 10% as inventory levels reduced following actions taken to manage production capacity together with improved sales

Strategic highlights
· Sales continue to grow in the strategically important markets of China, Japan and Germany, with China sales already at 50% of new plant capacity
· Three year programme to transform the manufacturing footprint is progressing to plan
- Investment projects for new plants in China and USA on track to commence production in 2016
- First phase of restructuring of operations in Scotland now complete
- Restructuring of operations in Australia now implemented
- Restructuring actions on track to deliver annual cost reductions of £5 million from early 2015
· Exceptional items relate to this transformation and are in line with previous guidance