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Hilton Food says trading in line, outlook positive
Specialist food packing business Hilton Food said on Thursday that its performance in the year to the end of December has been in line with the board's expectations.
Hilton said the performance reflects growth in a number of existing and new markets, as well as the positive impact of foreign currency translation. The company said it has continued to growth the business in Western Europe, with higher turnover particularly in the UK and Ireland. In Sweden and Denmark, meanwhile, sales have been up slightly, with "strong" Christmas fresh pizza sales in Sweden.
In Holland, although sales were lower due to reduced consumer demand, Hilton said it has continued to perform well. In Central Europe, the group's performance has improved in the second half in line with its expectations, as it continues to adapt its business model to the local environment.
Hilton also said that its joint venture in Australia has progressed well, with the Victoria plant delivering year-on-year growth as expected.
"Hilton's trading outlook remains positive, with growth prospects underpinned by the expansion plans announced in the last year covering Australia, Portugal, Central Europe and New Zealand, as well as further opportunities arising from the Seachill acquisition.
"The group's financial position is strong, positioning us well for further expansion. Hilton remains well placed to deliver continued growth over the medium term enhanced by further opportunities to develop our cross category business in both domestic and overseas markets."
At 0940 GMT, the shares were up 3% to 865p.