Last checked at 5 Nov 2013 07:00
Hilton Food Group plc
5th November 2013
INTERIM MANAGEMENT STATEMENT
Hilton Food Group plc, Europe's leading specialist international meat packing business, provides its interim management statement for the period from 15th July 2013 to date.
Trading for the period across the Group's operations has been in line with the Board's expectations. In Western Europe we have continued to make good progress in a number of markets. In Denmark, where we added a new production line earlier this year, we have seen volumes continue to grow. In Holland, our business also continues to perform well, following the introduction of new product lines. We have also seen a recent pick-up in the UK performance, following a challenging first half. The Irish business has not yet resumed growth, reflecting the wider economic conditions in Ireland, whilst in Sweden performance has remained steady. In Central Europe, the Group's trading has been in line with our expectations.
Hilton's joint venture in Australia is making good progress. The development of the Bunbury facility is proceeding in line with our plans, with both pork and lamb now relaunched in new packaging formats and beef products to follow this month. In Victoria, the first steps have been taken in preparing for the construction of the new facility in Melbourne.
Overall, we are pleased by Hilton's progress this year. The Group's financial position remains strong and there has been no significant change to the balance sheet position since the half year. Hilton continues to explore opportunities to grow the business in both domestic and overseas markets.
The Group expects to issue a pre-close trading statement on 10th January 2014 and to announce its preliminary results for the 52 weeks ended 29th December 2013 on 27th March 2014.
For further information please contact:
Hilton Food Group plc Tel: +44 (0)1480 387214
Robert Watson, OBE, Chief Executive
Nigel Majewski, Finance Director
Citigate Dewe Rogerson Tel: +44 (0)207 282 2889
Tom Baldock