Devro saw a 15 per cent increase in turnover last year driven by inflation and higher volume sales of its sausage skin casings and other products for the meat industry.

The company – which is being taken over by Germany's Saria in a £540 million deal – said it experienced particularly good volume increases in its mature markets. It was also successful in passing on higher costs to its customers.

"The second half of the year delivered strong operating margins, reflecting the benefits of management's pricing actions, operating efficiency and foreign exchange tailwinds," the company said in an update on trading.

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"As a result, adjusted operating profit is anticipated to be ahead of the board's expectations, subject to any audit adjustments."

Headquartered in Moodiesburn, Devro announced in November that it had agreed to a takeover offer from Saira, part of the Rethmann family empire. The deal is expected to complete later this year.

One of the largest makers of collagen casings in the world, Devro has about 2,000 employees globally with seven main production facilities in Australia, China, the Netherlands, the Czech Republic, Scotland and the United States.