Specialist meat packer Hilton Food Group posted a “robust” set of results today (31 March) with an 11.6% rise in full-year profits.
For the year to 31 December, pre-tax profit reached GBP17.3m (US$24.7m) from GBP15.5m in the previous year.
Despite rising raw material prices, the company said it has been a “robust” 12 months, with the group making “good progress”, achieving strong volume growth in all the territories in which it operates.
Operating profit for the group increased 16.1% to reach GBP20.2m. Turnover rose 26.3% to GBP729.5m.
Chief executive Robert Watson said: “Despite a worsening general economic background across Europe and the consequent pressure on consumer spending, I am pleased to report that 2008 has been a successful year for the group, with trading in line with the board’s expectations.
“These results demonstrate the relative resilience of our business in a more challenging environment.”
The year to 31 December has been Hilton Food Group’s first full year’s trading since its flotation on the main market of the London Stock Exchange in May 2007.
