Interim results for the six months ended 30 June 2004

Devro plc, the world leader in edible casings, today announces results for the six months ended 30 June 2004.

Highlights

• Group turnover up 1.8% to £70.9m (2003: £69.7m)
• Operating profit £10.1m (2003: £10.1m)
• Pre-tax profit up 1.7% to £8.7m (2003: £8.6m)
• Earnings per share up 6.0% to 3.9p (2003: 3.7p)
• Dividend per share up 13.6% to 1.25p (2003: 1.1p)
• Net debt £31.5m (June 2003: £34.3m)

Pat Barrett, Chairman of Devro, commented:

"Our business has seen strong volume growth over a more sustained period than has been the case for some time and net earnings have seen an overall increase despite the difficult operating conditions of earlier this year and continuing exchange rate pressures.

"The positive trading environment has continued into the second half and, with the adverse factors affecting manufacturing now largely overcome, the Board is looking to the future of the business with confidence."

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