Hilton Food profits jump as meat category drives volume growth
Hilton Food Group’s profits soared in the first half of the year as its core meat category delivered strong volume growth.
For the 26 weeks to 30 June, the food business’ adjusted pre-tax profit rose 25.3% to £33.5m, underpinned by “continued positive momentum” in Hilton’s seafood business, according to chief executive Steve Murrells.
Volumes increased 3.2%, however sales were up just 1% on a like-for-like basis and were down 8.4% on a statutory basis to £1.94bn.
Murrells said: “Our core product ranges remain highly attractive to both our customers and their consumers, while the breadth of our offering make us well placed to win across every meal, in both retail and food service.
“The hard work of all our teams, coupled with our proprietary technology and market-leading innovation, has underpinned the strength of our relationships with customers during the period.”
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Hilton said it is “well-positioned” and continues to trade in line with expectations for the full year.
Murrells added: “As I look ahead, Hilton Foods has all the right attributes in place. Our strong financial platform, unique multi-category offer, and market-leading technology adds to my confidence in the group’s ability to achieve further international growth.”
It comes as AG Barr chair and former Dairy Crest Group CEO Mark Allen joins Hilton as a non-executive director and chair designate from 1 October.
He will become chair on 1 January 2025 when Robert Watson will step down after more than 20 years with the business.
Watson said: “After more than 20 years at Hilton Foods the time is right to continue our process of evolving our leadership. I am delighted that Mark is first joining the board and will then succeed me as chair next year.
“I am proud of what we have achieved at Hilton Foods and I will step down in the new year with the business in a stronger position than ever before.”
Allen added: “I am delighted to be joining a fantastic business, with great people and an excellent leadership team. This is a very exciting time for Hilton Foods and I am looking forward to continuing the excellent progress made so far through Robert’s leadership.”



