5th Nov 2015 09:27
LONDON (Alliance News) - Hilton Food Group PLC on Thursday said overall trading since July 13 has been slightly above the board's expectations.
The meat packing business said it has delivered good volume growth in Western Europe, with the UK benefiting from recent capacity expansion and also lower-than-anticipated start-up costs.
In Holland, the business is continuing to perform well, delivering further volume growth, while in Sweden, Hilton said it is encouraged by the cost performance arising from upgraded production lines. Denmark, however, remains slow, it said.
Meanwhile, trading in Central Europe has been line with expectations, with volume growth particularly in the Baltic States.
Hilton added that its joint venture in Australia is making "excellent progress".
"The group's financial position remains strong with the group continuing to generate cash in line with the board's expectations, leaving Hilton well-placed to continue to explore opportunities to grow the business in both domestic and overseas markets," Hilton said in a statement.
Shares in Hilton were trading down 3.7% at 460.00 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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