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November 3, 2016

Hilton Food Group trading “in line” with board expectations

Hilton Food Group today (3 November) reported growth in local turnover in most of the UK meat packer's markets.

Hilton Food Group today (3 November) reported growth in local turnover in most of the UK meat packer’s markets.

In a trading update for the period from 18 July to date, Hilton said it continued to benefit from last year’s investment in capacity expansion in the UK. Meanwhile, in Australia, Hilton said its joint venture with retailer Woolworths Ltd is “making excellent progress”, with volume roll-out ahead of expectations.

In the Netherlands, Hilton said sales remained “relatively flat” as it lapped a strong quarter last year. In Sweden, the company said it was “encouraged” by the cost performance arising from investments to upgrade production lines. In central Europe, Hilton said trading was “in line” with expectations, with growth in Poland and Hungary in particular. 

However, on a less positive note, Hilton noted “conditions in Denmark remain challenging”.

The company added that its financial position “remains strong” providing flexibility to  “explore opportunities to grow the business in both domestic and overseas markets”. 

Hilton will issue its full-year results on 12 January. 

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