Trading Update

RNS Number : 7161P

Hilton Food Group PLC

22 July 2010

 



HILTON FOOD GROUP plc

Trading update to 18th July 2010

Hilton Food Group plc ("Hilton" or "the business"), the leading specialist meat packing business supplying major international food retailers in Europe, is today providing an update on trading for the 28 weeks ended 18^th July 2010.  

Trading for the period has been in line with the Board's expectations, driven by volume growth across both  Western and Central Europe. Raw material pricing remains relatively stable across most of our markets.There has also been evidence within the business of some uptrading by consumers .

Against this background, we are pleased to report progress on a number of key initiatives.

Good progress is being made with the development of the new facility in Denmark.Construction of the building is underway and we  remain  on schedule to commence production in the second quarter of 2011.

We have delivered strong volume growth in Central Europe, where we have grown customer volumes and continued to roll-out exports to Rimi stores in the Baltic states of Latvia, Lithuania and more recently, Estonia.

For the remainder of the year,  we expect that customers and consumers will continue to look for good value. Hilton will continue to work very closely with its customers and our business model is well placed to support them according to consumer demand.  We will continue looking to grow our business with our existing customers and also by exploring geographic expansion prospects.

Robert Watson OBE, Chief Executive, commented:

"We are pleased to have continued growing volumes  across the business. Although there may be further economic challenges ahead, we believe that Hilton  will continue to make progress during the second half of the year."

Hilton is intending to publish its half year results on Tuesday 14^th September 2010.

Contacts:

Hilton Food Group                                       Tel: [phone]

Robert Watson,OBE, Chief Executive

Nigel Majewski, Finance Director

Citigate Dewe Rogerson                             Tel: [phone]

Tom Baldock

 

END

 

 

TSTSEMFLFFSSEIW