Last checked at 9 Jan 2015 07:00
9th January 2015
HILTON FOOD GROUP PLC
TRADING STATEMENT FOR THE 52 WEEKS ENDED 28th DECEMBER 2014
Hilton Food Group plc ("Hilton" or the "Group"), the leading specialist international meat packing business, is today providing an update on trading for the 52 weeks ended 28th December 2014. The Group intends to publish its full year results on 25th March 2015.
We are pleased to report that the Group has performed in line with the Board's expectations. In Western Europe, additional volumes in our UK business as well as higher volumes in Holland were the primary drivers of growth. Volume growth in these countries was partly offset by weak demand in Ireland, which has now resumed growth and lower volumes in Denmark. Performance in Sweden was steady. In Central Europe, which remains a competitive environment, the Group's performance has been in line with our expectations, with growth achieved in Poland. Turnover continues to be adversly affected by the impact of foreign exchange translation and lower raw material prices.
Hilton's joint venture in Australia continues to make good progress. The Bunbury conversion is complete and continues to perform well, with the Victoria plant on schedule to open in the third quarter of 2015. The outlook for 2015 remains positive, with the facility investment in Huntingdon expected to be commissioned by the end of the first quarter of 2015, despite some markets in continental Europe expected to remain subdued.
The Group's financial position remains strong, leaving us well positioned for future expansion and we remain well placed to deliver continued growth over the medium term and will continue to explore further opportunities to develop our business in both domestic and overseas markets.
Enquiries:
Hilton Food Group plc | Tel: +44 (0)1480 387214 |
Robert Watson OBE, Chief Executive | |
Nigel Majewski, Finance Director | |
Citigate Dewe Rogerson | Tel: +44 (0) 20 7282 2941 |
Angharad Couch |