21st Jul 2016 09:06
LONDON (Alliance News) - Hilton Food Group PLC on Thursday said performance in the first half of its financial year was in line with the board's expectations.
The meat-packing company said it continued to grow the business through additional volumes and close co-operation with its retail partners in the 28 weeks ended July 17, while also benefiting from the strength of its operating currencies against the weak pound.
In Western Europe, Hilton said it made good progress in a number of markets, with higher volumes in the UK, the Netherlands and Ireland year-on-year. In Sweden, volumes were flat but revenue up, due to the availability and price of Swedish pork, while conditions in Denmark remained challenging.
Central Europe also saw volume growth, Hilton said, while volumes in Australia from the joint venture plant in Victoria continued to be in line with plan.
"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 first-half results on September 13.
Shares in Hilton were trading up 0.1% at 585.38 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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