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Hilton Food pre-tax profits up

By BFN News | 07:37 AM | Thursday 31 March, 2016


Hilton Food Group reports strong progress in pursuing its growth strategy in the 53 weeks to 3 January with pre-tax profits rising to GBP28.0m - 11% up on last time. Revenues of GBP1,094.8m were down 0.4% from GBP1,099.0m in the 52 weeks to 28 December 2014 but operating profits rose by 11.3% to GBP29.0m. Strategic highlights: -Investment to modernise and expand capacity of UK site in Huntingdon, to service increased volumes for Tesco, completed during 2015. New production facilities are fully bedded in, working well and delivering planned operational efficiencies. - Encouraging progress from the Australian joint venture with Woolworths. New dedicated retail packed meat facility, near Melbourne, operated by the joint venture company, commenced production on schedule in September 2015. Store roll out plan covering Victoria and South Australia now completed. Chief executive Robert Watson said: "I am pleased to report that during 2015 Hilton made strong progress in pursuing its growth strategy, including the expansion of the Australian joint venture and the completion of the major UK capacity expansion project. We will continue to look for available opportunities to progressively and profitably expand the scale and scope of our operations as they arise using a business model that has over time proved to be successful, resilient, relevant and internationally transferable." Story provided by StockMarketWire.com

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