View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 3, 2011

UK: Devro sells German division

Sausage casing manufacturer Devro has revealed the sale of its German division to Finnish firm Visko Teepak.

Sausage casing manufacturer Devro has sold its German division to Finnish firm Visko Teepak.

Devro said yesterday (2 August) that it expects to receive EUR1.9m (US$2.7m) for the division upon completion of the deal, which the company expects to be in the third quarter of the year.

The announcements came as the company reported a 23% rise in net income to reach GBP15.6m (US$25.6m) for the first half of 2011.

Revenue from continuing operations increased by 2.4% to reach GBP107.1m, while operating profit from continuing operations climbed 11.6% to GBP19.5m. 

The company highlighted “strong” sales growth in south-east Asia, Eastern Europe and Russia, a favourable shift to higher margin sales, and its new Select range “gaining momentum” in Europe and Japan.

Chairman Steven Hannam said: “The continuing business remains on track to deliver the Board’s expectations for the full year. Our investment plan is expected to lead to further improvements in operational efficiency and will provide extra capacity for the anticipated growth in demand in future years as gut conversion opportunities and overall levels of meat consumption continue to increase.”

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Just Food