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16 Jul 2009 07:00
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HILTONΒ FOODΒ GROUP plc
Trading updateΒ toΒ 12Β JulyΒ 2009
Hilton Food Group plc ("Hilton"Β or "the Company"),Β the leading specialist meatΒ packing business supplying majorΒ international food retailersΒ in Europe,Β isΒ todayΒ providing an update onΒ trading for theΒ 28Β weeks endedΒ 12thΒ July 2009.Β Β
Although theΒ economicΒ environment in 2009 has been challenging, tradingΒ for the period has been in line with the Board's expectations, with turnover growth underpinned byΒ solid volume performance andΒ someΒ positive impactΒ fromΒ Β foreign currency translation.Β Raw material pricesΒ areΒ currently more stableΒ in some of our marketsΒ ,following rises last year.
Against this background, weΒ are pleased to haveΒ made good progressΒ with aΒ number ofΒ key initiatives.
In theΒ UK, where the market has been challenging, we have benefitted fromΒ an increasedΒ volume of barbecue products.
We have also progressed one of our key initiatives for 2009, namely the supply of spreadable meat products to Albert Heijn inΒ Holland, for whom production should startΒ duringΒ the second half of the year.
Β InΒ Ireland the bacon, sausage and gammon project has continued to perform well.
Trading Β has been strong inΒ Central Europe, where we have grown customer volumes.Β We haveΒ Β alsoΒ started to export limited volumesΒ from our facility inΒ PolandΒ toΒ Latvia,Β forΒ an existing customer.
For the remainder of the year, we expect to see customers andΒ consumersΒ continue to look for valueΒ and weΒ believeΒ that Hilton is well placed to support the marketΒ accordingly.Β WeΒ will continue looking toΒ grow our business throughΒ new product opportunitiesΒ andΒ byΒ exploringΒ geographic expansionΒ prospects.Β
Robert WatsonΒ OBE, Chief Executive, commented:
"We have continuedΒ growing the business despite the challenging economic conditions. This has been achieved throughΒ new productΒ initiatives, and byΒ growth in new markets, such asΒ Central Europe. Our modern facilities also enable us to supportΒ growth in our core markets."
Hilton isΒ intending to publish its halfΒ yearΒ results onΒ ThursdayΒ 10thΒ SeptemberΒ 2009.
Contacts:
Hilton Food Group Tel:Β +44 (0)1480Β 387214
Robert Watson,OBE,Β Chief Executive
Nigel Majewski, Finance Director
Citigate Dewe Rogerson Tel: +44 (0)207 282 2993
Tom Baldock/ Nicola Smith
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