Meat packing and abattoir group Hilton Food PLC (LON:HFG) reported strong growth in first-half profits, boosted by the impact of a key acquisition and the launch of a fresh food offering in central Europe.
The FTSE-250 listed company on Tuesday posted a 20.3% rise in adjusted pretax profit to £22.3mln in the six months to July 15 on revenues 24.5% higher at £863.6mln. It hiked the interim dividend by 12% to 5.6p per share.
READ: Hilton Food hikes divi as volumes pick up ahead of Tesco boost
Hilton bought Seachill - a UK-based fish processor - for £80.8mln in October last year.
The company, which supplies to supermarkets such as Tesco (LON:TSCO) and Ahold, said the supply of fresh foods in central Europe kicked off during the period and that work to build a state-of-the-art factory in Poland was ongoing.
Hilton added that it had further extended its geographical reach in Australia where it started production and took operational control of two existing facilities and is building a further facility and designing another in New Zealand.
"Hilton has continued to deliver on its strategies to build a significantly bigger more diversified business. We achieved strong volume and profit growth during the period including the integration of Seachill and the launch of a fresh food offering in Central Europe," Hilton's executive chairman Robert Watson said in a statement.
"We remain committed to growing our business through innovation and product development as well as continuing to explore opportunities to expand the business both at home and abroad."
Shares in the company, which have risen more than 10% in the last six months, were 3% up at 968p in early trade.