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Hilton Food Group (HFG)

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Hilton Food trading in line despite Dutch revenue dip

18 Jul 19

LONDON (ShareCast) - (Sharecast News) - Hilton Food Group said on Thursday that trading in the first half of its financial year has been broadly in line with expectations, with a slight dip in turnover from the Netherlands offset by "strong double-digit growth" in Australia and good progress in Western Europe at large.
UK revenue growth in the 28 weeks ended 14 July has been achieved through strong volume growth in the FTSE 250-traded company's Seachill fish business due to recent business wins, while Hilton's Irish and Portuguese businesses also growth in the first half.

Trading was also in line in Central Europe following the opening of a new fresh food facility.

Meanwhile in Australia, strong double-digit growth was underpinned by the volumes being processed at the Morningside satellite facility in Brisbane, Queensland.

Production at a new state-of-the-art facility at Heathwood in Brisbane will begin in the third quarter, while progress in developing a facility in New Zealand, which includes the company's first non-UK based fish unit, has also continued in line with Hilton's plans.

The food packing business added its financial position remains strong despite the development of new facilities in Brisbane and New Zealand, with the business continuing to explore further opportunities to expand.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 1,064.00p
Change Today 0.000p
52 Week High 1,118.00p
52 Week Low 905.00p
Volume 13,929
Shares Issued 81.72m
Market Cap 869.55m


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