Sausage skin maker Devro has reported continued growth in its markets with sales into developing markets proving particularly strong. As a result full-year earnings are expected to meet expectations even though developed markets have been “quieter” than they had been in the first half of the year.
IC TIP:
Buy
at
239p
The recent strength of Devro’s performance has prompted the company to plough more resources into its manufacturing facilities with capital expenditure expected to hit £30m this year. And the effect is already being seen with better yields and line speeds being experienced in recent months.
When: 20 November 2009
Price: 131p
Performance to date: +82%
