Interim Results For The Six months Ended 30th June 2003

Devro plc, the world leader in edible casings, today announces results for the six months ended 30 June 2003.

Highlights

• Operating profit up 11% to £10.1m (2002: £9.1m)
• Turnover up 4% to £69.7m (2002: £67.1m)
• Earnings per share up 37% to 3.7p (2002: 2.7p)
• Pre-tax profit up 8.5% to £8.6m (2002: £7.9m)
• Ne debt £34.3m (June 2002: £48.2m)
• Interim dividend of 1.1 p (2002: 1p)

Pat Barrett, Chairman of Devro, commented:

"I am delighted to report solid results for the period which demonstrates the recovery Devro plc has continued to make in the market place and the progress it has made in restoring balance sheet strength. The significant volume improvement across the three principal operations, Devro, Coria and Cutisin, reflects high levels of customer satisfaction and underpins the Group's strong market position.

"The second half has started well and the Board expects to be able to report further satisfactory progress when the full year's results are published."

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