Devro shares up after improved second half

Shares of Glasgow-based sausage skin and collagen products firm Devro rose about 3% after it said its performance had recently improved in China, Russia and South East Asia and that underlying operating profit for full year 2016 is expected to be in line with its expectations.

In a trading update, Devro said: “As previously guided, overall sales volume trends in H2 were broadly similar to those experienced in H1.

“Improved performance in H2 in Russia, South East Asia and in particular in Q4 in China, offset lower volumes related to product issues in Latin America and some volume reduction in North America due to customer de-stocking in the final quarter.

“In China sales volumes in H2 were more than double of those in H1 as capacity from the new factory came on stream.”

Devro will announce its full year results on March 6.