Devro (DVO)

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270.00p
   
  • Change Today:
      2.25p
  • 52 Week High: 324.80
  • 52 Week Low: 210.00
  • Currency: UK Pounds
  • Shares Issued: 166.92m
  • Volume: 593
  • Market Cap: 450.69m
  • RiskGrade: 130
  • Beta: 0.23

Devro enjoys strong second half - UPDATE

Date: Tuesday 21 Feb 2012

LONDON (ShareCast) - Shares in sausage skin maker Devro fell on Tuesday despite the firm seeing a strong rise in adjusted pre-tax profits and saying that underlying growth prospects for its global markets remain encouraging.

Reported pre-tax profit fell to 43m in the year ended December 31st compared to 54m the year before. However, the prior-year figure benefitted from a one-off exceptional gain of 18.9m due to change to the UK pension scheme.

Therefore, profit before tax and exceptionals, which appears to represent a more accurate underlying trading position, rose by 22.4% from 35.2m to 43m. Panmure Gordon was expecting a figure of 41.6m.

Revenue also increased to 227.7m during the period from 213.6m previously, slightly ahead of market expectations of 226.6m.

The firm - which disposed of its German distribution business, Devro GmbH, at the end of September - said sales volumes continue to grow strongly in South East Asia, Russia and Eastern Europe. The success of its Select range in Japan and Europe particularly contributed to sales, the group said.

However, shares were down 3.57% at 283.5p in afternoon trading today, with Reuters highlighting the recent strong share price performance prior to the results and concerns over increasing energy and raw materials costs.

Panmure Gordon said that despite the results beating its own forecasts, a tougher competitive environment and a headwind from higher utility costs prevents us from increasing our forecasts.

Looking ahead Chairman Steve Hannam said the outlook for 2012 was favourable.

"With our evolving product range and strategic capital investment programme, we are well placed to take advantage of this opportunity. The strong performance in the second half of 2011 and the continuing strength of the balance sheet give us confidence for the future."

Underlining its confidence in future trading the board is to recommend a final dividend of 5.5p per share, bringing the full year dividend to 80 per share, up 14.3%.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Devro Market Data

Currency UK Pounds
Share Price 270.00p
Change Today 2.25p
% Change 0.84 %
52 Week High 324.80
52 Week Low 210.00
Volume 593
Shares Issued 166.92m
Market Cap 450.69m
Beta 0.23
RiskGrade 130

Devro Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.65% below the market average73.65% below the market average73.65% below the market average73.65% below the market average73.65% below the market average
62.16% below the sector average62.16% below the sector average62.16% below the sector average62.16% below the sector average62.16% below the sector average
Price Trend
6.18% below the market average6.18% below the market average6.18% below the market average6.18% below the market average6.18% below the market average
Sector averageSector averageSector averageSector averageSector average
Income
48.18% above the market average48.18% above the market average48.18% above the market average48.18% above the market average48.18% above the market average
46.15% above the sector average46.15% above the sector average46.15% above the sector average46.15% above the sector average46.15% above the sector average
Growth
70.32% below the market average70.32% below the market average70.32% below the market average70.32% below the market average70.32% below the market average
67.57% below the sector average67.57% below the sector average67.57% below the sector average67.57% below the sector average67.57% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 5
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Devro Dividends

  Latest Previous
  Interim Final
Ex-Div 27-Aug-14 26-Mar-14
Paid 03-Oct-14 16-May-14
Amount 2.70p 6.10p

Trades for 31-Oct-2014

Time Volume / Share Price
08:01 552 @ 268.75p
08:00 41 @ 270.00p

Devro Key Personnel

CEO Peter Page
Chair Gerard Hoetmer

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