DEVRO PLC — Regulatory Filings 2019

Apr 25, 2019

National Storage Mechanism | Additional information

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RNS Number : 0134X

Devro PLC

25 April 2019

25 April 2019

Devro plc

Trading Update

Devro plc ("Devro" or the "Company"), one of the world's leading manufacturers of collagen products for the food industry, issues the following trading update for the period 1 January 2019 to the current date ("the period"), ahead of its Annual General Meeting to be held at 11.00am today.

Trading in the period was in line with the Board's expectations, with momentum building through the quarter after a slower start to the year.

We continue to see good trading in North America, South East Asia and China, offset by ongoing challenging conditions in Russia, Japan and Latin America. As previously indicated, we expect 2019 revenue growth to be H2 weighted, as it will benefit from the build in sales of Fine Ultra, as well as underlying market growth.

Our cost saving initiatives are on track and we are confident of being able to meet the previously outlined targets.

Devro remains well placed to make good progress during 2019.

Chairman Search

As announced on 15 November 2018, Gerard Hoetmer will retire as Chairman and Director of the Company at the conclusion of today's Annual General Meeting.  The search for a new Chairman is well advanced and the Board anticipates an announcement will be made in the near future. Current Senior Independent Director, Paul Withers, will serve as interim Chairman from the conclusion of today's Annual General Meeting until the new Chairman is appointed.

ENDS

Contacts:

Devro plc

Rutger Helbing	Chief Executive Officer	Tel: 020 3865 7637
Jackie Callaway	Chief Financial Officer	Tel: 020 3865 7637

FTI Consulting

Richard Mountain / Nick Hasell		Tel: 020 3727 1340

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