The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHilton Foods Regulatory News (HFG)

Share Price Information for Hilton Foods (HFG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 923.00
Bid: 922.00
Ask: 925.00
Change: -11.00 (-1.18%)
Spread: 3.00 (0.325%)
Open: 931.00
High: 934.00
Low: 921.00
Prev. Close: 934.00
HFG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Update

8 Nov 2022 07:00

RNS Number : 5875F
Hilton Food Group PLC
08 November 2022
 

 

 

8th November 2022

 

 

Hilton Food Group plc

 

TRADING UPDATE

 

 

Hilton Food Group plc ("Hilton Foods" or the "Group"), the leading international multi-protein food business, today announces its Autumn trading update.

 

Trading

 

During the period, Hilton Foods' volume and revenue have been in line with the Board's expectations, with continued revenue growth compared to the same period last year, although inflationary pressures are providing a headwind. We have continued to make progress in our strategy of diversification across geographies, proteins and channels:

 

· In APAC, trading has been in-line with expectations with the New Zealand food park continuing to make excellent progress with strong volume and revenue growth. We hosted an analyst visit to Australia and New Zealand in September to showcase our world class facility in Brisbane and the Group's first multi-protein food park in Auckland.

 

· In Europe, our single customer facilities performed well with revenue ahead of the same period last year primarily driven by higher input prices, with particularly strong trading in our Scandinavian markets as well as in Central Europe, driven by the continued strong performance of our fresh food business.

 

· In our European multi-customer businesses, overall trading conditions have improved and we have instigated a number of cost savings initiatives and continued our investments in automation, the benefits of which will be delivered in 2023. Within our UK Seafood business we continue to work closely with our retail partners and have made good progress in either mitigating or passing through the unprecedented inflationary costs faced by the business. However, with this occurring at a slower pace than anticipated, the process is not fully complete, and will continue for the rest of this year and into early 2023.

 

· Our technology businesses, Foods Connected and Agito, have continued to add new customers in the period and we are pleased with the early stages of our partnership with Cellular Agriculture.

 

Outlook

 

Given the challenges in the UK Seafood business alongside the wider macro-economic environment, the Board anticipates that operating profit will now be below its expectations for the full year.

 

Despite this the Board remains confident that the business is well placed for 2023, with the Group's financial position continuing to be strong, with leverage remaining at comfortable levels.

 

We have made good progress in ongoing discussions regarding geographic expansion and continue to explore opportunities for growth in our existing markets as we deliver on our strategy of becoming the protein partner of choice.

 

The Group expects to announce the publication date for its results for the 52 weeks ending on 1st January 2023 in its January Trading Update on 12th January 2023.

 

This announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

 

For further information please contact: 

 

Hilton Food Group plc

Tel: +44 (0) 1480 387214

Philip Heffer, Chief Executive Officer

Matt Osborne, Chief Financial Officer

 

 

 

 

Headland Consultancy

Tel: +44 (0) 20 3805 4822

Edward Young

Will Smith

Joanna Clark

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTFLFFDLSLDIIF
Date   Source Headline
1st Apr 202110:51 amRNSTotal Voting Rights
17th Mar 20212:59 pmRNSHolding(s) in Company
10th Feb 20218:39 amRNSHolding(s) in Company
1st Feb 20219:59 amRNSTotal Voting Rights
20th Jan 20211:35 pmRNSDirector/PDMR Shareholding
18th Jan 202111:21 amRNSDirector/PDMR Shareholding
14th Jan 20217:00 amRNSTrading Update
4th Jan 202112:24 pmRNSDirector/PDMR Shareholding
4th Jan 20218:15 amRNSBlock listing Interim Review
4th Jan 20218:08 amRNSTotal Voting Rights
16th Dec 20205:24 pmRNSHolding(s) in Company
1st Dec 20202:24 pmRNSTotal Voting Rights
27th Nov 20204:41 pmRNSSecond Price Monitoring Extn
27th Nov 20204:35 pmRNSPrice Monitoring Extension
23rd Nov 20207:00 amRNSDirector role change
17th Nov 202011:08 amRNSDirector/PDMR Shareholding
2nd Nov 202012:23 pmRNSTotal Voting Rights
29th Oct 20207:00 amRNSTrading Update
26th Oct 20204:56 pmRNSHolding(s) in Company
1st Oct 202010:20 amRNSTotal Voting Rights
29th Sep 20202:40 pmRNSDirector/PDMR Shareholding
17th Sep 20207:00 amRNSInterim Results
15th Sep 202012:07 pmRNSSecond Price Monitoring Extn
15th Sep 202012:02 pmRNSPrice Monitoring Extension
4th Sep 202012:02 pmRNSPrice Monitoring Extension
2nd Sep 20202:12 pmRNSHolding(s) in Company
1st Sep 202010:33 amRNSTotal Voting Rights
7th Aug 202012:08 pmRNSSecond Price Monitoring Extn
7th Aug 202012:02 pmRNSPrice Monitoring Extension
6th Aug 20202:33 pmRNSHolding(s) in Company
6th Aug 202012:02 pmRNSPrice Monitoring Extension
3rd Aug 20209:38 amRNSTotal Voting Rights
8th Jul 202012:08 pmRNSSecond Price Monitoring Extn
8th Jul 202012:02 pmRNSPrice Monitoring Extension
1st Jul 202012:21 pmRNSDirector/PDMR Shareholding
1st Jul 202012:19 pmRNSBlock listing Interim Review
1st Jul 202012:15 pmRNSTotal Voting Rights
29th Jun 202012:08 pmRNSSecond Price Monitoring Extn
29th Jun 202012:02 pmRNSPrice Monitoring Extension
9th Jun 202012:08 pmRNSSecond Price Monitoring Extn
9th Jun 202012:02 pmRNSPrice Monitoring Extension
5th Jun 202012:03 pmRNSPrice Monitoring Extension
3rd Jun 20209:51 amRNSDirector Declaration
2nd Jun 202012:02 pmRNSPrice Monitoring Extension
27th May 20204:39 pmRNSHolding(s) in Company
22nd May 20202:29 pmRNSRights attaching to ordinary shares
21st May 20202:03 pmRNSResult of AGM
21st May 20207:00 amRNSTrading Update
20th May 202012:18 pmRNSAdditional Listing
15th May 202012:00 pmRNSAGM Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.