Strong sales growth in markets including China, south east Asia and Russia together with currency fluctuations helped sausage skin manufacturer Devro see revenues rise 11 per cent to £125.2 million in the first half of the year.
Profits before tax at the North Lanarkshire firm, which has operations in Bellshill and Moodiesburn, fell to £13.1m from £13.7m, but the company remains on track to meet full-year expectations.
Chief executive Peter Page said: “Devro has made good progress with its principal objectives of growing revenue, volumes and market share in a range of markets, whilst reducing unit costs in operations.
“The Devro 100 programme to accelerate achievement of these objectives has progressed well during the first half of 2017. New products will be introduced during H2 as planned.
“The board’s expectations for the full year remain unchanged and the business continues to generate strong cash flow from the underlying operations, which will enable net debt covenant ratios to be returned to historic levels over time.”