DARREN SHIRLEY | SHORE CAPITAL
We continue to believe Devro’s medium to long term growth dynamics remain intact, with structural growth potential underpinned by very healthy margins, a strong balance sheet, robust cash generation, an international capability and continuing investment in new manufacturing capability.
CHARLES PICK | NUMIS SECURITIES
The top line of the update is good, but it has a sting in the tail in terms of profit expectations. Higher input costs, adverse foreign exchange and temporary commissioning issues with new lines will prompt modest market downgrades. This could present a buying opportunity at lower levels.
NICOLA MALLARD | INVESTEC
Demand in the third quarter has continued to be strong across developed and emerging markets, which is encouraging as new capacity comes on-stream. However, there have been continued headwinds, and we reduce our full-year numbers by three per cent.