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Hilton Food in line with forecasts

By BFN News | 08:02 AM | Thursday 11 January, 2018

Hilton Food Group said it performed in line with the board's expectations in the 52 weeks to the end of December. It said this reflected growth in a number of existing and new markets, as well as the positive impact of foreign currency translation. An update said: 'In Western Europe, we have continued to grow the business, with higher turnover particularly in the UK and Ireland. 'In both Sweden and Denmark, sales have been slightly up, with strong Christmas fresh pizza sales in Sweden. 'In Holland, although sales were lower, reflecting consumer demand, we have continued to perform well. 'In Central Europe, performance has improved in the second half in line with our expectations, as we continue to adapt our business model to the local environment. 'We are also pleased with the progress Foods Connected has made, with additional customers signed up to the information and commercial support platform, along with the continued success of Hilton Food Solutions, our trading subsidiary. 'SOHI Meat Solutions, our joint venture company in Portugal, has continued to demonstrate progress as we execute against the development plan in conjunction with Sonae, our joint venture partner.' Hilton said its joint venture in Australia has also progressed well, with the Victoria plant delivering year-on-year growth as expected. It said: 'Development work for the new Queensland facility has continued in line with plan, with construction having commenced. 'We were also very pleased to announce a further expansion of our business cooperation with Woolworths Australia, having signed an agreement to construct a plant in Auckland, New Zealand, for Woolworth's subsidiary Progressive Enterprises Ltd.' Hilton said its trading outlook remained positive, with growth prospects underpinned by the expansion plans announced in the last year covering Australia, Portugal, Central Europe and New Zealand, as well as further opportunities arising from the Seachill acquisition. At 8:02am: (LON:HFG) Hilton Food Group PLC share price was +15p at 855p Story provided by

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