Devro, the sausage skin maker, has noted "high single digit" percentage revenue growth in the first quarter, compared to the year before.

The Scottish company said revenue growth was good in emerging and mature markets supported by "positive underlying demand" with North America and European markets producing the strongest volume growth in the quarter.

It said it is experiencing further inflationary headwinds, and in response "continues to achieve targeted price increases and to maintain tight cost management".


READ MORE: Sausage skin firm hails growth in North America


Devro said: "In the first half of 2022 the £3.1m hedging gain in the first half of 2021 will not repeat, resulting in a material foreign exchange headwind.

"Full year profits will therefore be more second half weighted than is usual."

Net debt at the end of March had risen to £100m and the firms expects strong cash generation for the full year with further progress on reducing net debt compared to full year 2021, when it was £88.6m.  

Devro added: "The group has started the year well and, despite ongoing macro-economic headwinds including inflationary pressures, we expect to continue to make good progress in 2022."

Shares in Devro closed at 209.5p, down 0.71%.