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Hilton Food ups dividend as profit jumps 21%

By BFN News | 07:29 AM | Thursday 17 September, 2020

Food packing business Hilton Food upped its dividend after reporting that profit increased by more than a fifth in the first half of its fiscal year, led by increased revenue on higher volume growth. For the 28 weeks to 12 July 2020, pre-tax profit rose 21% to £24m on-year and revenue was up 38.6% to £1.26bn. Higher demand due to increased consumption at home due to Covid-19 Volume grew 22.6%, supported by its Australian facility, UK and increased home consumption driven by Covid, the company said. Interim dividend increased from 6.0p to 7.0p, an increase of 16.7% 'Our financial position remains strong and we continue to explore opportunities to invest and grow the business both domestically and in overseas markets with both new and existing customers,'the company said. 'Our full year results are expected to be in line with the board's expectations.' Story provided by

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