Hilton Food Group PLC Trading Update (7500E)
21 July 2016 - 7:00AM
UK Regulatory
TIDMHFG
RNS Number : 7500E
Hilton Food Group PLC
21 July 2016
21(st) July 2016
Hilton Food Group plc
TRADING UPDATE
Hilton Food Group plc ("Hilton" or the "Group"), the leading
international specialist retail meat packing business, provides a
trading update for the 28 weeks ended 17(th) July 2016.
During the period, the Group's performance has been in line with
the Board's expectations. We have continued to grow the business,
through additional volumes and close cooperation with our retail
partners. The Group has also benefited from the strength of the
currencies in which it operates relative to sterling.
In Western Europe, we have made good progress in a number of
markets. In the UK, volumes are higher than in 2015, when they were
still building up during the bedding-in phase following the
expansion of the production facility. In the Dutch market, we
continue to see volume growth. We are also encouraged by the
performance of our business in Ireland, where we have seen growth
in the first half of 2016. In Sweden, volumes have been flat and
turnover up, reflecting the availability and price of Swedish pork.
We have also agreed with our customer ICA, the leading retailer in
Sweden, to supply fresh pizzas to its stores, which is expected to
commence towards the end of 2016. In Denmark, conditions remain
challenging whilst in Central Europe, where Hilton supplies
customers in seven countries, we have seen volume growth.
In Australia, the volume build up from the joint venture's plant
in Victoria continues in line with the agreed plan.
As indicated in our announcement dated 6(th) July 2016, we have
recently signed a co-operation agreement with Sonae in Portugal
which is expected to lead to a joint venture agreement at some
point.
The Group's financial position remains strong and Hilton
continues to explore opportunities to grow the business in both
domestic and overseas markets.
The Group intends to publish its interim results for the 28
weeks ended 17(th) July 2016 on 13(th) September 2016.
For further information
please contact:
Hilton Food Group plc Tel: +44 (0) 1480 387214
Robert Watson, OBE, Chief
Executive
Nigel Majewski, Chief
Financial Officer
Citigate Dewe Rogerson
Maria Darby-Walker Tel: +44 (0) 20 7282
Ellen Wilton 2840
Tel: +44 (0) 20 7282
2849
This information is provided by RNS
The company news service from the London Stock Exchange
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July 21, 2016 02:00 ET (06:00 GMT)