July 30 Devro Plc, which makes edible
collagen casings for sausages, reported a 7.7 percent decline in
first-half revenue almost entirely due to the strength of the
pound against various currencies.
Revenue fell to 109.7 million pounds ($185.8 million) in the
six months ended June 30 from 118.9 million pounds a year
Pretax profit fell 90 percent to 1.6 million pounds, mainly
due to restructuring costs.
Devro said total revenue was unchanged at constant currency
rates. The company makes sales in euros, U.S. dollars and yen,
and incurs manufacturing costs in Australian and U.S. dollars
and the Czech koruna, as well as sterling.
($1 = 0.5903 British Pounds)
(Reporting by Aastha Agnihotri in Bangalore; Editing by Robin