Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRocView Video
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investorsView Video

Latest Share Chat

Hilton Food Plots More Growth After 2020 Beats Forecasts

Thu, 14th Jan 2021 10:15

(Alliance News) - Food packaging firm Hilton Food Group PLC on Thursday said its annual performance topped board expectations, benefiting from Covid-19 lockdowns putting a stop to out-of-home dining.

Hilton Food shares were 6.2% higher at 1,200.00 pence each in London on Thursday morning.

In the 53 weeks ended January 3, Hilton Food saw "strong year-on-year sales and volume growth". This was helped by its "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, benefiting 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," Hilton Food added.

Revenue growth continued in both Sweden and Denmark, where Hilton Food is now packaging chicken. In the Netherlands, it benefited from higher red meat volumes and increases in vegetarian and vegan products.

Central European volumes "have remained buoyant", with Hilton Food citing its work with UK grocer Tesco PLC and Polish chain Zabka.

Across the globe, the Huntingdon, England-based company rolled out production from a site in Queensland, Australia and boosted volumes to its targeted level. Hilton Food noted that Covid-19 restrictions in the Australian state of Victoria, "have largely been lifted".

"The development of the New Zealand facility is still on track to open in the third quarter of 2021," Hilton added.

"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 Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Related Shares

More News
27 Mar 2024 12:55

UK supermarket Morrisons says performance improving under new boss

Rami Baitieh joined as CEO in November *

26 Mar 2024 08:41

TOP NEWS: Grocery inflation hits 2-year low while sales get Easter boost

(Alliance News) - Grocery price inflation eased further in March, while early Easter treats gave sales a boost, new data showed on Tuesday.

26 Mar 2024 08:00

British grocery price inflation slows to 4.5%, Kantar says

*UK grocery inflation at lowest level since Feb. 2022 -Kantar

22 Mar 2024 09:53

Supermarket Income REIT buys Tesco omnichannel store for GBP35 million

(Alliance News) - Supermarket Income REIT PLC on Friday said it will buy a big Tesco PLC omnichannel supermarket.

20 Mar 2024 09:38

Greggs stores forced to close as technical issue halts payments

(Alliance News) - Greggs PLC stores across the UK on Wednesday have been hit by technical issues preventing them from accepting payments, forcing some...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.