Emerging markets see Devro invest in new capacity
In 2010 the Glasgow-based firm reported revenues of £237m (up 7.5% on 2009), while pre-tax profits rose 104% to £55m (£27m in 2009).
Chairman Steve Hannam said:"We experienced sales growth in most of our markets, with the exception of China, where we took a conscious decision to reduce sales to satisfy strong demand elsewhere. Excluding China, our sales volumes were up 11% compared to 2009.
"Demand for collagen casings is growing rapidly in China, and we are looking carefully at strategic ways to approach that market.”
Increasingly stable prices for raw materials and energy meant good performance across all operating sites, said Devro, while newly installed lines and line upgrades across sites in Scotland, Australia and the Czech Republic lifted overall output by 7%.
