Hilton Foods Regulatory News (HFG)

5th November 2024

HILTON FOOD GROUP PLC

TRADING UPDATE

Current trading in line with Board's expectations

Strong volume growth sustained across all operating regions

Hilton Food Group plc ('Hilton Foods' or 'The Group'), the leading international multi-protein food business, today announces a Q3 trading update for the period from 1st July 2024 to 19th October 2024.

Trading

The strong performance delivered in the first half of the year has continued in the third quarter across all three geographical operating regions, with trading in line with the Board's expectations. 

· The Seafood business is performing in line with expectations and within UK & Ireland, we continue to grow core meat volumes and revenues.

· In Europe, core meat ranges and convenience meals have performed strongly and we are continuing to implement our recovery plan for Dalco within the vegan and vegetarian segment.

• APAC has performed strongly and whilst, as expected, deflation in raw material prices has had an impact on revenue, volumes have remained strong.

Outlook

Hilton Foods continues to trade in line with the Board's full year expectations. The Group's financial position remains strong, enabling the business to continue to invest in opportunities that align with our strategic priorities.

The Group expects to announce the publication date for its results for the 52 weeks ending 29th December 2024 in its Trading Update on 9th January 2025.

Steve Murrells CBE, Group Chief Executive of Hilton Foods said:

"This has been a further period of progress for Hilton Foods. The strength of our quality products has continued to underpin our customer relationships as we target further international growth.

"In the final quarter of the year, we remain confident in delivering our full year in line with our expectations and I would like to thank all our teams around the world, who continue to deliver for our customer partners."

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