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Hilton Food ShareCast News (HFG)
ShareCast News for Hilton Food (HFG)
| Share Price: 361.75 | Bid: 355.00 | Ask: 370.00 | Change: 0.00 (0.00%) |  | ||||||
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Hilton Food gives downbeat outlook
Thu, 21st Jul 2011 14:06
Meat packing firm Hilton Food Group said trading was in line with expectations despite higher raw materials prices and challenging market conditions but gave downbeat outlook for the remainder of the year, sending its shares lower.
Hilton Food said, "The trading environment for the rest of 2011 is likely to remain challenging, with economic recovery across the European countries in which we operate moving at different speeds."
For the 28 weeks ended 17th July, the company said it has recorded good turnover growth in Western Europe, which benefited from a strong performance in Sweden "where the economic recovery has continued."
Also, Hilton Food said volumes in Denmark have started to grow after its facility was opened three months ahead of schedule. It added that it continues to grow the business in Central Europe, and is benefiting from the first full year of sales to Rimi in Estonia.
"The company's balance sheet remains strong. As expected, net debt has increased, reflecting completion of the first phase of investment in Denmark. We remain financially well placed for future expansion," the company said.
Shares of Hilton Food slipped 0.5% to 278.7p in London.
AR
Hilton Food said, "The trading environment for the rest of 2011 is likely to remain challenging, with economic recovery across the European countries in which we operate moving at different speeds."
For the 28 weeks ended 17th July, the company said it has recorded good turnover growth in Western Europe, which benefited from a strong performance in Sweden "where the economic recovery has continued."
Also, Hilton Food said volumes in Denmark have started to grow after its facility was opened three months ahead of schedule. It added that it continues to grow the business in Central Europe, and is benefiting from the first full year of sales to Rimi in Estonia.
"The company's balance sheet remains strong. As expected, net debt has increased, reflecting completion of the first phase of investment in Denmark. We remain financially well placed for future expansion," the company said.
Shares of Hilton Food slipped 0.5% to 278.7p in London.
AR
Tuesday broker round-up UPDATE
Abcam: Investec raises target price from 466p to 484p and keeps a buy recommendation. Numis revises target price from 470p to 530p and maintains its buy ratng.[5 Mar '13]
SABMiller Marketing Director trades in shares
A round-up of the biggest director deals today so far.[15 Jan '13]
Friday broker round-up UPDATE
Aberdeen Asset Management: Credit Suisse raises target price from 380p to 410p reiterating an outperform rating.[11 Jan '13]
Hilton Food enters into joint venture with Woolworths
Specialist meat packing business Hilton Food has signed a joint venture agreement with Australia's largest retailer, Woolworths.[10 Jan '13]
Thursday broker round-up UPDATE
Afren: Morgan Stanley takes target price from 215p to 220p and reiterates an overweight rating.[10 Jan '13]
Tuesday broker round-up
AB Foods, Aviva, Babcock, BT, CSCG, DS Smith, Endace, EnQuest, Faroe, G4S, Hikma, Hilton, IAG, IG, IMagination Tech, IMI, IHG, ITV, Kofax, L&S, M&S, Meggitt, Morgan Sindall, Ryanair, Senior, SQS, TalkTalk, Talvivaara, Telecity, Weir[6 Nov '12]
Hilton Food sees growth opportunities
Meat packaging firm Hilton Food said trading across the group's operations has been in line with company expectations in the period from July 16th 2012 to date and sees growth opportunities in domestic and overseas markets.[6 Nov '12]
Tuesday broker round-up
3i, AB Foods, ARM, ASOS, Bunzl, Burberry, Betfair, Cape, Chariot, Coastal, Drax, ENRC, G4S, Hilton Food, Huntsworth, IG, Morgan Sindall, Morrisons, Premier Farnell, Severn Trent, Taylor Wimpey[11 Sep '12]
