Meat packing business Hilton Food Group said today (12 January) it had traded in line with expectations in the year to 1 January.
In a trading update, Hilton said it had grown turnover in Holland and Sweden and had a “solid” year in the UK and Ireland, while Central European operations enjoyed an “improved performance” in recent months.
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Hilton, which supplies the likes of Tesco and Ahold, said the trading environment in 2012 was likely to remain challenging, but it is well-placed to grow.
“The group’s balance sheet remains strong, with net debt close to budgeted level, leaving us well positioned for future expansion,” it added. “We continue to explore further opportunities to develop our business in both domestic and overseas markets.”
Graham Jones, an analyst at Panmure Gordon, forecast 8.5% profit before tax growth and gave Hilton shares a ‘buy’ rating.
Shares in Hilton dipped less than a percentage point to 27p as of 11.33am BST. Hilton will publish its full-year results on 29 March.
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