Hilton Food Group PLC Trading Update (4811Z)
May 24 2021 - 2:00AM
UK Regulatory
TIDMHFG
RNS Number : 4811Z
Hilton Food Group PLC
24 May 2021
24(th) May 2021
Hilton Food Group plc
TRADING UPDATE
Hilton Food Group plc ("Hilton" or the "Group"), the leading
specialist international food packing business, is today providing
a trading update for the period from 4(th) January 2021 to date,
ahead of its Annual General Meeting to be held at noon today.
Overall, trading has been in line with the Board's expectations
following a strong start to the year with momentum continuing in a
number of markets.
In Europe, we have made good progress, where demand for our
products has increased due to most of the European markets being
subject to restrictions and home consumption continuing, although
we have continued to incur Covid-related costs in these markets. In
the UK, red meat business turnover has grown strongly relative to
last year. Additionally, with sous vide volumes currently
increasing, we are moving production to Huntingdon from the middle
of the year to reduce costs and provide additional capacity. In
Hilton Seafood, we have grown volumes and continue to see a shift
from counter sales to centrally packed products.
In our Scandinavian markets, we have seen turnover growth
although in Sweden this has been held back by the lack of
availability of Swedish meat, whilst sales in Denmark have been
augmented with growing volumes of chicken products.
In Central Europe, we have seen strong growth driven by red meat
and fresh food. We have also delivered growth in Portugal. In our
most recently opened plant in Belgium, volumes continue to rise as
the product range is rolled out. Sales in Dalco, our plant-based
product joint venture, are slightly ahead of a strong comparator
period, despite its strong presence in major food service outlets
affected by the European lockdown, and we continue to see
significant opportunities in the roll-out of plant-based
products.
In Australia, which has been subject to some regional lockdowns,
we have continued to see strong growth stemming from the
annualisation of the higher Queensland volume as well as the full
consolidation of the results of Bunbury and Truganina. As noted at
the year end, we expect the New Zealand meat and fish plant to
start up in the third quarter of 2021.
The Group's financial position remains strong, having put in
place committed facilities to cover announced expansion plans.
Hilton continues to explore opportunities in which to invest and to
grow the business both domestically and in overseas markets and we
are also exploring a number of growth options with our existing
customers.
The Group intends to publish its results for the 28 weeks ended
18(th) July 2021 on 16 September 2021.
For further information please contact:
Hilton Food Group plc Tel: +44 (0) 1480 387214
Philip Heffer, CEO
Nigel Majewski, CFO
Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571
Angharad Couch
Ellen Wilton
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTSEAFDFEFSESI
(END) Dow Jones Newswires
May 24, 2021 02:00 ET (06:00 GMT)
Hilton Food (LSE:HFG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hilton Food (LSE:HFG)
Historical Stock Chart
From Apr 2023 to Apr 2024