Hilton Food first-half trading in line with expectations
Specialist retail meat packing business Hilton Food said trading in the first half of the year was in line with its expectations, with challenging consumer conditions in some countries and the appreciation of the pound continuing to affect results, as expected.
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Still, it said it continued to grow the business through additional volumes and close cooperation with its retail partners.
In its trading update for the 28 weeks ended 12 July, Hilton said it has made good progress in a number of markets. In the UK, where it has expanded its production facilities, volumes have continued to build towards anticipated levels. In the Dutch market, the company has continued to see volume growth and has supported Albert Heijn in the development of its recently opened innovation centre.
The group said it was also encouraged by the performance of its business in Ireland, where it has seen growth in the first half. For both Sweden and Denmark, conditions have remained challenging while in Central Europe, where Hilton supplies customers in seven countries, trading has been in line with the board's expectations.
“The group's financial position remains strong and Hilton continues to explore opportunities to grow the business in both domestic and overseas markets,” it said.
At 09:28, shares were down 2.6% at 455p.