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Hilton profits rise after strategic progress

By BFN News | 07:21 AM | Tuesday 12 September, 2017

Hilton Food Group saw further territorial growth and strategic progress in the 28 weeks to 16 July. Revenues of £690.7m were 9.3% up on a year ago. Turnover was up 3.3% on a constant currency basis, reflecting raw material prices increases, enhanced by favourable currency translation. Operating profits of £18.8m rose by 9.0% - up 1.4% on a constant currency basis after absorbing start-up costs in Europe, initial Queensland costs and weaker trading in Central Europe. The group has declared an interim dividend of 5.0p per share - up from 4.6p last time. Chief executive Robert Watson said: "Hilton delivered strong volume and profit growth during the period. "Our strategic progress continued with entry into Portugal and expansion recently announced in Central Europe where beef deboning has commenced and a fresh food factory will be developed. "The initial work on our new factory in Queensland, Australia continues with the planning approvals process well advanced. We remain committed to growing our business through innovation and product development as well as exploring a range of new expansion opportunities to further our geographic reach." Story provided by

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