Devro (DVO)

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244.75p
   
  • Change Today:
      1.75p
  • 52 Week High: 338.00p
  • 52 Week Low: 210.00p
  • Currency: UK Pounds
  • Shares Issued: 166.92m
  • Volume: 1,016,290
  • Market Cap: 408.54m
  • RiskGrade: 113
  • Beta: 0.12

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 244.75p
Change Today 1.75p
% Change 0.72 %
52 Week High 338.00p
52 Week Low 210.00p
Volume 1,016,290
Shares Issued 166.92m
Market Cap 408.54m
Beta 0.12
RiskGrade 113

Devro Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
45.01% below the market average45.01% below the market average45.01% below the market average45.01% below the market average45.01% below the market average
25.71% below the sector average25.71% below the sector average25.71% below the sector average25.71% below the sector average25.71% below the sector average
Price Trend
73.51% below the market average73.51% below the market average73.51% below the market average73.51% below the market average73.51% below the market average
43.59% below the sector average43.59% below the sector average43.59% below the sector average43.59% below the sector average43.59% below the sector average
Income
59.55% above the market average59.55% above the market average59.55% above the market average59.55% above the market average59.55% above the market average
76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average
Growth
72.7% below the market average72.7% below the market average72.7% below the market average72.7% below the market average72.7% below the market average
72.22% below the sector average72.22% below the sector average72.22% below the sector average72.22% below the sector average72.22% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 6
Sell 0
Strong Sell 1
Total 9
neutral
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 02-Sep-2014

Time Volume / Share Price
16:35 17,200 @ 244.75p
16:29 297 @ 244.50p
16:27 781 @ 244.25p
16:27 1,200 @ 244.25p
16:27 989 @ 244.25p

Devro Key Personnel

CEO Peter Page
Chair Gerard Hoetmer

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