16th Jul 2015 07:18
LONDON (Alliance News) - Hilton Food Group PLC Thursday said that trading in the first half of 2015 was in line with its expectations and that while it is experiencing volume growth in some markets, challenging conditions in other countries and the strength of the pound are hitting its results.
The meat-packing business said that it is facing challenging consumer conditions in some countries and that the appreciation of sterling is hitting its results, but said that it continues to grow the business through additional volumes and close cooperation with its retail partners.
Hilton said it has made good progress in a number of markets in Western Europe. In the UK, volumes have continued to build towards anticipated levels, and volume growth has also continued in the Dutch market, while Ireland also demonstrated growth in the first half.
Conditions in Sweden and Denmark have remained challenging, however, while trading in Central Europe has been in line with the board's expectations, and development work by the joint venture at Victoria in Australia is proceeding in line with plans. Test running has commenced ahead of start-up in the third quarter, Hilton said.
"The group's financial position remains strong and Hilton continues to explore opportunities to grow the business in both domestic and overseas markets," the company said in a statement.
Hilton will release its interim results for the 28 weeks ended July 12 on September 8.
Shares in Hilton were untraded at the open on Thursday, last trading at 467.25 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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