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Devro profits fall

DEVRO, the Scottish-based collagen skin manufacturer, has seen profits slide after making 130 staff redundant at its sites in Moodiesburn and Bellshill.

The company, whose products are used by the food industry, said costs linked to streamlining its Scottish operation led pre-tax profits fall to £1.6 million in the six months to June 30. This compared with £16.2 million in the first half of the previous year.

Chief executive Peter Page said: "Stronger sales in the second quarter have resulted in volumes and constant currency revenues in line with prior year for the first half.

"In order to add capacity, align products with market opportunities and reduce unit costs, all our manufacturing operations are in the midst of a significant transformation process which is impacting current year profits but will enhance earnings in the future."

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