31st Oct 2019 09:41
(Alliance News) - Food packaging firm Hilton Food Group PLC on Thursday said higher red meat volumes via Tesco PLC have driven positive trading in the UK.
Hilton, which packages all of the supermarket giant's red meat products, added that its Seachill subsidiary also saw higher volumes. Seachill supplies chilled seafood products to UK retailers.
In Western Europe, volumes were broadly flat in Sweden and Denmark, where Hilton has recently begun selling pizzas to retailers.
In Holland, red meat volumes were weaker year-on-year, Hilton said, but the company has gained from vegetarian and vegan products produced by Dalco Food BV. In October of last year, the FTSE 250 firm said it acquired a 50% stake in Dutch vegetarian products manufacturer.
In Central Europe, volumes "remained challenging", though there was double-digit growth in Australia, Hilton said.
"The group's financial position remains strong, and we continue to explore opportunities to invest in and to grow the business in both domestic and overseas markets," the company said.
Hilton will report its results for the year ending December 29, on March 26, 2020.
Hilton shares were trading 3.0% higher at 1,040.00 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
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