1st Nov 2018 11:35
LONDON (Alliance News) - Hilton Food Group PLC said Thursday its performance in the period from July 16 to date has been in line with expectations, as the food packaging company continues to "explore" investment opportunities domestically and overseas.
The FTSE 250-listed company said it continued to grow its business in the period through "additional volumes" and "cooperation with retail partners".
In the company's Western Europe region, its made "good progress" with UK revenue continuing to grow compared to last year. The growth is being driven by its seafood division Seachill.
Hilton Food said Seachill won a new contract to supply shellfish to Tesco PLC as well as supply coated fish to Waitrose from March 2019.
Revenue in Denmark was broadly flat with revenue from Sweden falling below the year prior.
Hilton Foods said Holland remains a challenging market but will focus on new product & packaging developments.
In Central Europe, the company said it has seen sustained improvement in performance, as a result of "initiatives" taken.
In Australia, the company delivered double digit volume growth - which includes its joint ventures in Bunbury and Victoria and its satellite facility in Brisbane.
The development work at its new Queensland plant has continued ahead of plans, with production start-up now expected from the fourth quarter of 2019.
Hilton Foods will publish its results for the year ending December on March 27.
Shares in Hilton Food were down 0.4% at 918.00 pence each.
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