Trading Statement

RNS Number : 8968T

Hilton Food Group PLC

12 January 2017

 

12^th January 2017

HILTON FOOD GROUP plc

TRADING STATEMENT FOR THE 52 WEEKS ENDED 1^st  JANUARY 2017

Hilton Food Group plc ("Hilton" or the "Group"), the leading specialist international meat packing business, today provides an update on trading for the 52 weeks ended 1^st  January 2017. The Group intends to publish its full year results on 30^th  March 2017.

We are pleased to report that the Group has performed slightly ahead of the Board's expectations. This reflects growth in a number of markets, as well as the positive impact of foreign currency translation.

In Western Europe we have continued to grow the business, particularly in the UK, where we have had a good last quarter, and also in Ireland. In both Sweden and Holland, sales have been slightly up, whilst in Denmark, sales were slightly lower reflecting consumer demand. In Central Europe, performance has been in line with our expectations, as we continue to  adapt our business model to the local environment. We are also pleased with the start-up of the pizza businesses in Poland and Sweden, along with the continued success of Hilton Food Solutions, our new trading subsidiary.

We are also pleased to report the recent formation of a new joint venture company in Portugal, SOHI Meat Solutions, in agreement with our joint venture partner Sonae (see announcement dated 4^th  January 2017).

Hilton's joint venture in Australia continues to make good progress, with the Victoria plant delivering strong year-on-year growth as expected. Planning and preparation work is underway for the site of the  new production facility in Queensland (see announcement dated 6^th December 2016).  

The outlook for 2017 remains positive, with Hilton's growth prospects underpinned by the recently confirmed expansion plans in Portugal and Queensland, Australia. The Group's financial position remains strong, positioning us well for further expansion. Hilton remains well placed to deliver continued growth over the medium term and will continue to explore further opportunities to develop our business in both domestic and overseas markets.

Enquiries:

Hilton Food Group plc	Tel: [phone]
Robert Watson OBE, Chief Executive
Nigel Majewski, Chief Financial Officer
Citigate Dewe Rogerson	Tel: [phone]
Louise Mason Ellen Wilton

 

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