March 6 British sausage-skin maker Devro Plc
on Monday announced an investment programme aimed at
increasing sales and manufacturing efficiency after reporting a
6.6 percent fall in 2016 sales volumes.
The maker of edible collagen casings for bratwurst, salami
and chorizo said it would invest 7-8 million pounds ($8.6
million to $9.82 million) and expected exceptional costs of the
programme to be 10-12 million pounds.
It expects annual benefits from the programme of 13-16
million pounds by 2019, Devro said.
Devro reported a 14 percent rise in 2016 underlying
operating profit to 38.1 million pounds, helped by favourable
currency movement and lower input costs. Revenue rose 4.7
percent to 241.1 million pounds.
However, Devro said full-year sales volumes fell 6.6
Devro shares were down 3.2 percent in early trade.
($1 = 0.8149 pounds)
(Reporting by Rahul B in Bengaluru; editing by Jason Neely)