25th May 2016 07:55
LONDON (Alliance News) - Hilton Food Group PLC on Wednesday said it is trading in line with the board's expectations so far in 2016.
The meat-packing business said it has made good progress in a number of markets in Western Europe, with volume in the UK continuing to grow relative to last year, while the Irish business has continued to show encouraging signs with growth in the first quarter.
The Dutch market has also seen steady volume growth, and while volume has been flat in Sweden, revenue is up reflecting the availability and price of Swedish pork. In Denmark, however, conditions have remained challenging.
Meanwhile, Hilton said it has seen steady volume growth in Central Europe, where it supplies customers in seven countries, while Australia is seeing continued volume build-up from the joint venture's new plant in Victoria.
"The group's financial position remains strong, underpinned by good operating cash flows. Hilton continues to explore opportunities to grow the business in both domestic and overseas markets," Hilton said in a statement ahead of its annual general meeting on Wednesday.
Hilton will issue its first-half results for the 28 weeks ending July 17 on September 13.
Shares in Hilton were untraded on Wednesday, last quoted at 592.50 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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