QuickView: Transformation underway
Devro’s transformation programme is under way, with the aim of better aligning its production footprint with demand in the market, and to upgrade its production technology to improve manufacturing efficiency. Once this is complete, the group will finally be operating at lower cost and with far fewer capacity constraints, thus presenting material savings, and with the potential for building further revenue growth in the medium term. While 2015 is likely to be another year of transition with broadly flat revenues, we would expect earnings to make progress, and we believe the transformation story will continue to play out positively.Devro is a manufacturers of collagen products for the food industry. Co.'s collagen casings are used to manufacture a variety of sausages. Co. sells collagen products directly to food manufacturers and, in some markets, local distributors. Co. has three operating segments: Americas, which includes North America and Latin America; Asia-Pacific, which includes Australia, New Zealand, Japan, China and the rest of South East Asia; and Europe, which includes Continental Europe, U.K., Ireland and Africa.
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