(Alliance News) - Hilton Food Group PLC on Thursday said its performance in the second half of its financial year to date has been in line with management expectations.
For the period from July 13 to date, the FTSE 250 food processing and packaging firm said it has continued to grow its business through additional volumes, reflecting the ongoing shift to home consumption as well as Hilton's cooperation with its retail partners.
In Europe overall, Hilton said it had benefited from customers eating out less due to the Covid-19 pandemic. In the UK, revenue rose through higher red meat and fish volumes, as did revenue in Sweden and Denmark.
Hilton's performance in Holland also was strengthened by higher red meat volumes, and a rise in vegetarian and vegan products from Dalco.
Meanwhile, the group said it is now operating in Australia as a "unified business", and tighter restrictions in the state of Victoria in the period led to increased home consumption.
Looking ahead, Hilton said its New Zealand facility is still on track to open in the third quarter of 2021.
"The group's financial position remains strong and we continue to explore opportunities to invest in and to grow the business in both domestic and overseas markets," Hilton stated.
Shares in Hilton Food were up 1.9% at 1,179.00 pence on Thursday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Hilton Foods (HFG)