AGM Trading Update

Summary by AI BETAClose X

Hilton Food Group plc has provided a trading update ahead of its Annual General Meeting, confirming that its full-year outlook remains unchanged with expected adjusted profit before tax in the range of £60m-£65m. The company reported good trading performance in its core meat and fresh prepared food businesses, with positive momentum in Australia, New Zealand, and Central Europe, and slightly higher volumes in the West region. While seafood, vegetarian, and vegan businesses face challenges, progress is being made to improve performance, including cost reduction plans at Seachill and a shift to sea freight for Foppen exports to the US. Commercial partnerships have been extended with Tesco, and capital projects in Canada and Saudi Arabia are on track for 2027 and H2 2026 respectively, with plans to increase capacity in Poland. Capital expenditure is anticipated to be around £100m, leading to an increase in net debt over the year.

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