Last checked at 12 Jan 2012 07:00
HILTON FOOD GROUP PLC
TRADING STATEMENT FOR THE 52 WEEKS ENDED 1st JANUARY 2012
Hilton Food Group plc, Europe's leading specialist retail meat packing business, is today providing an update on trading for the 52 weeks ended 1st January 2012.
We are pleased to report that the Group has performed well, with trading for the period in line with the Board's expectations. In Western Europe, we have continued to see turnover growth in Holland and Sweden, the latter reflecting the recovery of the Swedish economy. In the UK and Ireland, we worked closely with our customer to deliver value to the consumer through challenging economic conditions, and this has enabled us to deliver a solid performance. In Central Europe, as referred to in the November Interim Management Statement, we have seen an improved performance in recent months.
In Denmark, we completed the first phase of investment in the packing plant and are pleased with the volume build-up achieved. Installation of the robotic store picking facility is ongoing and when complete will further extend the range of services offered by the Group.
The Group's balance sheet remains strong, with net debt close to budgeted level, leaving us well positioned for future expansion.
The trading environment in 2012 is likely to remain challenging, though Hilton is well placed to deliver continued growth. We continue to explore further opportunities to develop our business in both domestic and overseas markets.
The Group intends to publish its full year results on Thursday 29th March 2012.
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
Clare Simonds