Devro Plc - Trading Update
Trading in the period was in line with the Board's expectations, with momentum building through the quarter after a slower start to the year.
We continue to see good trading in North America, South East Asia and China, offset by ongoing challenging conditions in Russia, Japan and Latin America. As previously indicated, we expect 2019 revenue growth to be H2 weighted, as it will benefit from the build in sales of Fine Ultra, as well as underlying market growth.
Our cost saving initiatives are on track and we are confident of being able to meet the previously outlined targets.
Devro remains well placed to make good progress during 2019.
As announced on 15 November 2018, Gerard Hoetmer will retire as Chairman and Director of the Company at the conclusion of today's Annual General Meeting. The search for a new Chairman is well advanced and the Board anticipates an announcement will be made in the near future. Current Senior Independent Director, Paul Withers, will serve as interim Chairman from the conclusion of today's Annual General Meeting until the new Chairman is appointed.