Hilton Food Group PLC Trading Update (6195L)
14 January 2021 - 6:00PM
UK Regulatory
TIDMHFG
RNS Number : 6195L
Hilton Food Group PLC
14 January 2021
14(th) January 2021
HILTON FOOD GROUP plc
TRADING UPDATE FOR THE 53 WEEKS ENDED 3 JANUARY 2021
Hilton Food Group plc ("Hilton" or the "Group"), the leading
specialist international food packing business, today provides a
trading update for the 53 weeks ended 3(rd) January 2021.
We are pleased to report the Group has performed ahead of the
Board's expectations, with a continuation of the strong
year-on-year sales and volume growth driven by both our own
expansion as well as the shift to home consumption arising from the
Covid-19 pandemic.
In Europe, we have continued to make good progress in a number
of markets, benefitting from consumers eating out less often due to
the ongoing impact of Covid-19. Turnover in the UK is therefore
higher and driven predominantly by red meat and fish volumes.
Turnover has continued to grow in both Sweden and Denmark, where we
are now packing chicken. In Holland, we have seen higher red meat
volumes and have also benefitted from increased volumes of
vegetarian and vegan products produced by Dalco. In Central Europe,
volumes have remained buoyant, with continued volume growth in
Fresh Food across both Tesco and Zabka. We are also pleased to
confirm the Belgium operation is proceeding in line with our
expectations.
In Australia, we successfully rolled out production from the
Queensland site and increased volumes to targeted levels, leading
to strong topline growth. The tightening of restrictions in
Victoria state have largely been lifted and there has been a
reversion towards more normalised consumption patterns during the
fourth quarter. The development of the New Zealand facility is
still on track to open in the third quarter of 2021.
Hilton's trading outlook remains positive, with growth prospects
underpinned by the expansion plans previously announced covering
Belgium and New Zealand, as well as further opportunities arising
across our markets by the development of our cross category
business and the application of Hilton's supply chain management
expertise. Funding is in place to cover the announced expansions
and the Group's financial position remains strong. We will continue
to explore opportunities to grow the business in both domestic and
overseas markets.
The Group will publish its preliminary results on 7(th) April
2021.
Enquiries:
Hilton Food Group plc Tel: +44 (0)1480 387214
Philip Heffer, Chief Executive
Officer
Nigel Majewski, Chief Financial
Officer
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
TSTSFIFADEFSEEF
(END) Dow Jones Newswires
January 14, 2021 02:00 ET (07:00 GMT)
Hilton Food (LSE:HFG)
Historical Stock Chart
From Apr 2024 to May 2024
Hilton Food (LSE:HFG)
Historical Stock Chart
From May 2023 to May 2024