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Hilton Food continues on growth path

Published: 08:39 18 Jul 2019 BST

Pack of meat
A new fresh food facility went live in Central Europe this year

Investors tucked into shares of Hilton Food Group PLC (LON:HFG) after the food packing business said it was trading in line with expectations.

The company said it had made good progress in several markets in Western Europe in the 28 weeks to 14 July.

READ Hilton Food profits boosted by acquisitions and central Europe product launch

In the UK, turnover has continued to grow relative to last year, reflecting strong volume growth in the Seachill fish business.

The Irish business also experienced top-line growth in the first half while in Portugal, the group delivered growth.

Holland's turnover was a little lower than in 2018 but the company drew encouragement from a decent contribution from its share of the Dalco vegetarian business.

Performance in Central Europe was in line with expectations.

In Australia, the group saw double-digit percentage growth, underpinned by the volumes being processed at the Morningside satellite facility in Brisbane, Queensland.

Production at the new at Heathwood in Brisbane will begin in the third quarter of 2019 and that should ensure continued growth momentum. Progress in developing the facility in New Zealand, including a fish unit, has also continued in line with the group's plans.

The group's financial position remains strong with bank facilities in place to support current and future growth.

“Hilton continues to explore opportunities to invest and grow the business in both domestic and overseas markets,” the company said.

Shares in Hilton rose 1.3% to 953p in early deals.

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