International

Hilton Food reports a 9% increase in revenues in the first semester

Hilton Food Group, a leading retail meat-packaging producer, reported an increase in its revenues by 9.3% in the first six months of 2017, to £690.7 million.

Posted on Sep 15 ,06:47

 

 

The company's operating profit increased by 9% to £18.8 million and its turnover rose by 3.3% on a constant currency basis, reflecting raw material prices increases, enhanced by favorable currency translation.

Moreover, Hilton's volume growth was driven by Australia, Ireland, Sweden and Portugal partly offset by challenging market conditions in Central Europe. It was up 8.7% in the first half of 2017.

“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,” said Chief Executive Robert Watson OBE.

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