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Devro PLC - Glasgow-based collagen food products manufacturer - Pretax profit in six months to June 30 falls to £15.9 million from £18.4 million the year prior. Revenue improves to £129.8 million from £119.9 million. Declares interim dividend of 2.9 pence, up from 2.8p.
Chief Executive Rutger Helbing says: ‘The group performed well in the first half, building upon the track record of recent years, and reflecting our strong and improving growth platform. The results are particularly pleasing given the challenging macroeconomic backdrop with the group continuing to ably respond.
‘Whilst we remain alert to global supply chain challenges and inflation, the board's expectations for the full year are unchanged. The group's robust first half performance, solid order books, pricing action and ongoing momentum gives us confidence in the full year outturn. Current foreign exchange rates could provide upside if they prevail throughout the second half.’
Current stock price: 186.57 pence
12-month change: down 17%
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