Trading Update

RNS Number : 0791V

Hilton Food Group PLC

19 July 2018

 

Hilton Food Group plc

                                                                                                                        19^th July 2018

                                                            TRADING UPDATE

Hilton Food Group plc ("Hilton" or the "Group"), the leading international specialist food packing business, is today providing a trading update for the 28 weeks ended 15^th July 2018.

During the period, the Group's performance has been in line with the Board's expectations. We 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, turnover has continued to grow relative to last year, reflecting higher volumes, whilst our Irish business has experienced encouraging top-line growth in the first half. Holland's turnover is lower than in 2017 though more stable and we are continuing to perform well supporting our customer through a number of initiatives. The business in Portugal is continuing to show good progress, as we execute against the scheduled development plan, with an overall improvement in operational KPIs and consumer feedback.

In Denmark, we are pleased to announce the extension of our partnership with Coop Danmark, enabling Hilton to build on their collective expertise by growing volumes and strengthening Coop's position in the meat category. Hilton has also invested in the long-term relationship with Coop by purchasing the freehold property in which the facility is located.

Seachill is effectively contributing to the growth of the Group in line with our expectations; we are also developing our strategic options for expanding the fish division.

In Central Europe, where Hilton supplies customers in seven countries, the performance in the first half has continued in line with our expectations with good turnover growth.

In Australia, we have seen strong double-digit growth in the first half. The joint venture covering Bunbury and Victoria is continuing to perform well, with Victoria capacity now increased and we have also begun processing some of the Queensland volume in a satellite facility known as Morningside. As announced on 26^th February 2018, we have now successfully taken full operational control of the Joint Venture from July 1^st 2018.  We also noted in the AGM Trading Update that the development work in relation to the Queensland plant is progressing strongly, with construction work well advanced.

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

The Group intends to publish its interim results for the 28 weeks ended 15^th July 2018 on  11^th September 2018.

For further information please contact: 

Hilton Food Group plc	Tel: [phone]
Robert Watson, OBE, Executive Chairman
Nigel Majewski, CFO
Citigate Dewe Rogerson	Tel: + 44 (0) 20 7638 9571
Angharad Couch
Ellen Wilton

 

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