Trading Update

RNS Number : 9835S

Hilton Food Group PLC

16 July 2015

 

Hilton Food Group plc

16^th July 2015

TRADING UPDATE

Hilton Food Group plc ("Hilton" or the "Group"), the leading international specialist retail meat packing business, provides a trading update for the 28 weeks ended 12^th July 2015.

During the period, the Group's performance has been in line with the Board's expectations. As anticipated, challenging consumer conditions remain in some countries and the appreciation of Sterling against the currencies in which Hilton trades has continued to have an effect on our results. We have continued to grow the business, through additional volumes and close cooperation with our retail partners.

In Western Europe, we have made good progress in a number of markets. In the UK, where we have expanded our production facilities, volumes have continued to build towards anticipated levels. In the Dutch market, we have continued to see volume growth, and have supported Albert Heijn in the development of its recently opened innovation centre. We are also encouraged by the performance of our business in Ireland, where we have seen growth in the first half of 2015. For both Sweden and Denmark, conditions have remained challenging whilst in Central Europe, where Hilton supplies customers in seven countries, trading has been in line with the Board's expectations.

In Australia, development work by the Joint Venture at Victoria is proceeding in line with the agreed plan, with the equipping of the plant substantially complete and test running having commenced ahead of start-up in the third quarter.

The Group's financial position remains strong and Hilton continues to explore opportunities to grow the business in both domestic and overseas markets.

The Group expects to publish its interim results for the 28 weeks ended 12^th July 2015 on 8^th September 2015.

For further information please contact: 

Hilton Food Group plc	Tel: [phone]
Robert Watson, OBE, Chief Executive
Nigel Majewski, Finance Director
Citigate Dewe Rogerson	Tel: [phone]
Angharad Couch

 

END

 

 

TSTSFWSULFISEEW