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Hilton on track

By BFN News | 07:19 AM | Thursday 03 November, 2016


Meat packing group Hilton Food says it continues to trade in line with the board's expectations. The group says it has experienced local turnover growth in most of its markets and, as anticipated, it has also continued to benefit from the strength of the various currencies in which the group trades in relation to sterling. A trading statement says: "In Western Europe, we continue to deliver good growth, particularly in the UK which has benefited from the earlier capacity expansion programme and from the absence of start-up costs as compared with last year. Holland has remained relatively flat reflecting comparison with a strong third quarter last year. In Sweden, we are encouraged by the cost perfomance arising from the upgraded production lines. "Trading conditions in Denmark remain challenging, as noted within the Half Year results. In Central Europe, trading has been in line with our expectations, with growth particularly in Poland and Hungary." Hilton says its joint venture in Australia is making excellent progress. As noted at the half year, roll-out of the volume from the Victoria plant was ahead of expectations, and the volume build up continued over the third quarter. The group says its financial position remains strong with it continuing to generate cash leaving Hilton well-placed to continue to explore opportunities to grow the business in both domestic and overseas markets. Story provided by StockMarketWire.com

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