Revenue for the year ending December 31st rose 5.9 per cent at Devro to 241.1m pounds.

The FTSE 250-listed company, which manufactures collagen products for the food industry, reported a 1.3% rise in its operating profit to £43.2m and a 6.7% rise in cash generated from operations to £48.1m.

Profit before tax excluding pension interest was up 0.8% to £42.2m while basic earnings per share excluding pension interest was up 2.2% to 20.7p.

The total dividend per share was up 6.3% to 8.5p.

Steve Hannam, Chairman of Devro, commented: ‘In 2012, Devro delivered a further year of growth in line with our strategy and, despite some challenges, we increased revenue and operating profit. At the same time we continued to invest significant capital in our production facilities to increase capacity and upgrade our technology, funded through our cash resources.

‘He concluded: ‘With the continued positive outlook in our markets and anticipated growth from our investments the Board is recommending a final dividend of 5.85p per share, bringing the full year dividend to 8.5p per share, a 6.3% increase.’

MF