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BRIEF-Devro says full-year revenue up 4.7 percent to 241.1 mln stg
March 6, 2017 / 7:20 AM / 6 months ago

BRIEF-Devro says full-year revenue up 4.7 percent to 241.1 mln stg

March 6 (Reuters) - Devro Plc

* Final dividend 6.1 penceper share

* Total dividend 8.8 penceper share

* Fy revenue increased 4.7 pct year on year

* Fy underlying profit before tax* at £28.9m

* Fy profit before tax at £6.2m

* "whilst volumes declined by 6.6 pct year-on-year, underlying operating profit increased due to lower input prices and exchange rate benefits"

* Decline in sales volumes in 2016 was due to a series of region-specific factors. We have taken actions to ensure a return to growth in 2017 and beyond.

* Overall demand remains strong and we continue to see many attractive opportunities to grow business.

* Further exceptional costs of this programme are expected to be between £10-12 million over next two years

* Sees capital investments of between £7-8 million, with expected benefits of between £13-16 million per annum by 2019 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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