Trading Statement

RNS Number : 1522O

Hilton Food Group PLC

03 November 2016

 

Hilton Food Group plc

("Hilton" or the "Group")

                                                                                                            3rd  November 2016

                                             TRADING STATEMENT

Hilton Food Group plc, the leading specialist international meat packing business, provides its trading update for the period 18^th July 2016 to date.

In overall terms, the Group continues to trade in line with the Board's expectations. We have experienced local turnover growth in most of our markets and, as anticipated, we have also continued to benefit from the strength of the various currencies in which the Group trades in relation to sterling.

In Western Europe, we  continue to deliver good growth, particularly in the UK which has benefitted from the earlier capacity expansion programme and from the absence of start-up costs as compared with last year. Holland has remained relatively flat reflecting comparison with a strong third quarter last year. In Sweden, we are encouraged by the cost perfomance arising from the upgraded production lines. Trading conditions in Denmark remain challenging, as noted within the Half Year results. In Central Europe, trading has been in line with our expectations, with growth particularly in Poland and Hungary.

Hilton's joint venture in Australia is making excellent progress. As noted at the Half Year, rollout of the volume from the Victoria plant was ahead of expectations, and the volume build up continued over the third quarter.

The Group's financial position remains strong with the Group continuing to generate cash leaving Hilton well-placed to continue to explore opportunities to grow the business in both domestic and overseas markets.

The Group intends to issue a pre-close trading statement on 12th January 2017 and to announce its preliminary results for the 52 weeks ended 1st January 2017 on 30th  March 2017.

Enquiries:
Hilton Food Group plc Robert Watson OBE, Chief Executive Nigel Majewski, Chief Financial Officer	Tel: [phone]
Citigate Dewe Rogerson Louise Mason Ellen Wilton	Tel:  [phone]

 

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