Hilton Food Group PLC Trading Update (0791V)
July 19 2018 - 2:00AM
UK Regulatory
TIDMHFG
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: +44 (0) 1480 387214
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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END
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