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10 Sep 2019 | 08:05

Hilton Food profit rises on higher revenue amid boost from UK meat and fish businesses

Hilton Food reported a rise in half-yearly profit, driven by the contribution from both its UK meat and fish businesses and growth in Australia. For the 28 weeks to 14 July 2019, pre-tax profit rose 10.6% to £23.2m as revenue increased 6.5% on volume growth of 6.8% to 193,608 tonnnes. 'Volume increased 5.9% primarily reflected higher UK volumes including strong growth at Seachill which was boosted by business wins and an encouraging contribution from our share of the new Dalco business,' the company said. 'Australia began production ahead of schedule and we also opened our fresh convenience foods facility in Poland. In the UK we are now packing 100% of Tesco retail packed red meat,' the company added. The interim dividend was increased by 7.1% to 6.0p a share. Looking ahead, Hilton Food said it was well positioned to capitalise on future growth prospects both in domestic and overseas markets, forecasting full year results to be in line with the management's expectations.

At 8:05am: (LON:HFG) Hilton Food Group PLC share price was +12p at 990p

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