Trading Statement

RNS Number : 5302J

Hilton Food Group PLC

18 July 2013

 



HILTON FOOD GROUP PLC

                        TRADING STATEMENT FOR THE 28 WEEKS ENDED 14^th JULY

Hilton Food Group plc, Europe's leading specialist retail meat packing business, is today providing an update on trading for the 28 weeks ended 14^th July.

During the period, our performance has been in line with the Board's expectations. We have continued to benefit from our geographical diversity and new product lines to grow the business against the backdrop of challenging conditions for the consumer in some markets. During the first half Hilton has also benefited from a positive movement in foreign exchange translation.

In Western Europe we have made good progress in a number of markets. We are pleased with the sustained progress in our newest facility in Denmark, where during the first half we added a new production line to extend our capacity. Meanwhile volumes of product being sorted by the new robotic store order picking facility in Denmark continue to build. The Dutch business is benefitting from the introduction of new  lines, such as marinated sliced products and a pork stir-fry range, and there has also been steady turnover growth in Sweden. In Ireland and the UK our businesses were affected in the first quarter by well publicised industry issues while economic conditions have remained challenging, with consumer spending constrained. Our business in Central Europe, where Hilton supplies customers in seven countries, has continued to perform in line with expectations.

In Australia, the development work by the Joint Venture at Bunbury is proceeding in line with the agreed plan.

The Group's financial position remains strong, there being no significant changes to this position since the financial year end.

Hilton continues to explore opportunities to grow the business in both domestic and overseas markets.

The Group intends to publish its Half Year results on 10^th  September 2013.

For further information please contact:

Hilton Food Group plc                                             Tel: [phone]

Robert Watson, OBE, Chief Executive

Nigel Majewski, Finance Director

Citigate Dewe Rogerson                                        Tel: [phone]

Tom Baldock

 

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