UPDATE 1-Devro sees FY profit ahead of market view

Mon Nov 9, 2009 8:00am GMT
 
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* Says demand for edible collagen remains strong

* To invest in additional capacity in 2010

* Says sales volumes are showing good growth

* Forex rates benefit EBIT

* Net debt falls from June-end levels (Adds details)

Nov 9 (Reuters) - British sausage-skin maker Devro Plc (DVO.L) said it expected to post a profit for the full-year ending Dec. 31 ahead of market forecasts as demand for edible collagen remained strong, and would invest in additional capacity in 2010.

There has been good growth in sales volumes, particularly in Latin America and the Asia-Pacific region, the company said in a statement.

"Average selling prices are higher than the corresponding period last year, and continuing to show a positive trend," Devro said.

It also said foreign exchange rates have benefited earnings before interest and tax (EBIT) more than they did in the first-half ended June 30.  Continued...

 

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