Hilton Food Group sales rise despite ‘challenging conditions’

Hilton Food Group
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Hilton Food Group’s volumes and sales are ahead of last year, despite some of its international markets being hit by lower raw material prices.

The food business posted that in the UK, both volume and sales benefited from a strong Easter trading period, while the momentum of its seafood division turnaround continued.

Ahead of its annual general meeting today (20 May), Hilton Food said that its trading performance this year has been “in line with the Board’s expectations.”

It added: “The business remains well-positioned for the year ahead despite the continued challenging market environment and economic conditions. Our short and medium-term growth prospects are underpinned by the strength of our multi-category offer and continued progress in our UK Seafood business.


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“We are well placed to deliver long-term value to all stakeholders through our customer partnerships and with our strong financial position we continue to explore further growth opportunities and wider geographic expansion.”

Its recent update follows last year’s performance when the business announced its seafood arm experienced “significant challenges” amid rising inflation and global supply chain problems.

However in April, Hilton Food Group chief executive Steve Murrells praised the company’s “successful turnaround” as its pre-tax profit jumped 19% to £66m, while sales rose 3.7% to £4bn.

Murrells added: “Over the past year we’ve remained focused on executing our strategy which has resulted in a good performance against a challenging market.

“I am particularly pleased with the results in our seafood category, returning to full-year operating profitability following a successful turnaround.”

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Hilton Food Group sales rise despite ‘challenging conditions’

Hilton Food Group

Hilton Food Group’s volumes and sales are ahead of last year, despite some of its international markets being hit by lower raw material prices.

The food business posted that in the UK, both volume and sales benefited from a strong Easter trading period, while the momentum of its seafood division turnaround continued.

Ahead of its annual general meeting today (20 May), Hilton Food said that its trading performance this year has been “in line with the Board’s expectations.”

It added: “The business remains well-positioned for the year ahead despite the continued challenging market environment and economic conditions. Our short and medium-term growth prospects are underpinned by the strength of our multi-category offer and continued progress in our UK Seafood business.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


“We are well placed to deliver long-term value to all stakeholders through our customer partnerships and with our strong financial position we continue to explore further growth opportunities and wider geographic expansion.”

Its recent update follows last year’s performance when the business announced its seafood arm experienced “significant challenges” amid rising inflation and global supply chain problems.

However in April, Hilton Food Group chief executive Steve Murrells praised the company’s “successful turnaround” as its pre-tax profit jumped 19% to £66m, while sales rose 3.7% to £4bn.

Murrells added: “Over the past year we’ve remained focused on executing our strategy which has resulted in a good performance against a challenging market.

“I am particularly pleased with the results in our seafood category, returning to full-year operating profitability following a successful turnaround.”

FinanceFMCGNews

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