Hilton Food Group PLC Trading Statement (8968T)
January 12 2017 - 2:00AM
UK Regulatory
TIDMHFG
RNS Number : 8968T
Hilton Food Group PLC
12 January 2017
12(th) January 2017
HILTON FOOD GROUP plc
TRADING STATEMENT FOR THE 52 WEEKS ENDED 1(st) JANUARY 2017
Hilton Food Group plc ("Hilton" or the "Group"), the leading
specialist international meat packing business, today provides an
update on trading for the 52 weeks ended 1(st) January 2017. The
Group intends to publish its full year results on 30(th) March
2017.
We are pleased to report that the Group has performed slightly
ahead of the Board's expectations. This reflects growth in a number
of markets, as well as the positive impact of foreign currency
translation.
In Western Europe we have continued to grow the business,
particularly in the UK, where we have had a good last quarter, and
also in Ireland. In both Sweden and Holland, sales have been
slightly up, whilst in Denmark, sales were slightly lower
reflecting consumer demand. In Central Europe, performance has been
in line with our expectations, as we continue to adapt our business
model to the local environment. We are also pleased with the
start-up of the pizza businesses in Poland and Sweden, along with
the continued success of Hilton Food Solutions, our new trading
subsidiary.
We are also pleased to report the recent formation of a new
joint venture company in Portugal, SOHI Meat Solutions, in
agreement with our joint venture partner Sonae (see announcement
dated 4(th) January 2017).
Hilton's joint venture in Australia continues to make good
progress, with the Victoria plant delivering strong year-on-year
growth as expected. Planning and preparation work is underway for
the site of the new production facility in Queensland (see
announcement dated 6(th) December 2016).
The outlook for 2017 remains positive, with Hilton's growth
prospects underpinned by the recently confirmed expansion plans in
Portugal and Queensland, Australia. The Group's financial position
remains strong, positioning us well for further expansion. Hilton
remains well placed to deliver continued growth over the medium
term and will continue to explore further opportunities to develop
our business in both domestic and overseas markets.
Enquiries:
Hilton Food Group plc Tel: +44 (0)1480
387214
Robert Watson OBE, Chief
Executive
Nigel Majewski, Chief
Financial Officer
Citigate Dewe Rogerson Tel: +44 (0)
20 7282 2932
Louise Mason
Ellen Wilton
This information is provided by RNS
The company news service from the London Stock Exchange
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