| 30 June 2005 | 30 June 2004 * | |
| Revenue | £74.6m | £70.9m |
| Operating profit (before exceptional items) | £10.7m | £9.9m |
| Operating margin (before exceptional items) | 14.3% | 14.0% |
| Exceptional items: Profit on sale of land |
£6.1m | - |
| Profit before tax | £15.9m | £8.5m |
| Earnings per share | 7.0p | 3.8p |
| Earnings per share (before exceptional items) | 4.3p | 3.8p |
| Interim dividend per share | 1.375p | 1.25p |
| Net debt | £20.6m | £31.6m |
* restated on a comparable basis as set out in notes 1 and 2 of the consolidated interim financial statements.
"Led by a further increase in sales volumes, Devro has performed well over the first half of the year. In particular, the Cutisin brand has enjoyed a strong first half with sales volumes increasing by over 20% as we continue to meet the increasing demand for edible collagen products in Eastern Europe.
"Foreign exchange and increases in utility costs are expected to continue to have some negative effect during the second half. However, we continue to invest in the further development of our manufacturing processes to ensure ongoing improvement in support of both our external market development efforts and our internal cost containment programmes. The directors remain confident that, notwithstanding the current cost pressures, the outlook and prospects for continuing growth in the business are good."
| Graeme Alexander | Chief Executive | 020 7404 5959 on 7.9.05 |
| John Neilson | Finance Director | 01236 879191 thereafter |
| Jon Coles Mark Antelme |
Brunswick | 020 7404 5959 |