5th Nov 2013 10:45
LONDON (Alliance News) - Specialist retail meat-packing business Hilton Food Group PLC said that trading in the third quarter of the year has been in line with management expectations.
Hilton Food specialises in packaging meat for international food retailers, including Tesco, Ahol and Coop Denmark.
The group said that it has seen good progress in a number of markets in Western Europe, including Denmark, as volume growth has been supported by the addition of a new production line to extend its capacity and manage weekend and promotional peaks.
It said its Holland business also continues to perform well, boosted by the introduction of new product lines.
Hilton Food said that it has also begun to see a pick-up in its UK trading performance, following short-term industry issues in the UK and Ireland in the first half. However, it said its Irish business has not yet returned to growth.
The group said that its joint venture with Australian retailer Woolworths to construct a new meat-processing factory is still progressing well, and proceeding in line with plans.
Hilton Food said that its financial position remains strong, and there has been no significant change to its balance sheet since the first half of the year.
It also said that it continues to explore investment opportunities both at home and abroad.
Shares in the company were untraded Tuesday morning. They last traded at 431.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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