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Hilton Food Group (HFG)

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Hilton Food profits up on higher volumes

10 Sep 19

LONDON (ShareCast) - (Sharecast News) - Interim profits at packaging group Hilton Food rose as the company reported an increase in volumes in the UK and Australia.
The company added that it had made "significant" contingency measures to cope with a no-deal Brexit as the October 31 deadline for Britain to leave the European Union approached.

Operating profit for rose 13.3% to 26.7m attributable to Western Europe, including a contribution from the new Dalco joint venture, and Australia.

Volumes increased by 6.8% to 193,608 tonnes, reflecting growth in Western Europe and Australia, the company said on Tuesday.

Turnover increased by 5.6% to 912.1m. Pre-tax profit fell to 19.8m from 20.9m.

"Overall we believe that the Hilton business is sufficiently resilient to withstand uncertainties surrounding Brexit whilst minimising disruption," the company said.

"Should a 'no-deal' scenario arise, it may affect our ability to hire employees, trade tariffs on imports may increase and could result in possible border delays, currency volatility and regulatory standards dis-harmonisation."

"We have significant contingency measures already in place including rebalancing supply lines to minimise border crossings, flexible buying models and ongoing communication with suppliers to increase stock holdings and believe we are well prepared for any potential impact from a 'no deal' scenario."

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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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Ex-Div 31-Oct-19 30-May-19
Paid 29-Nov-19 28-Jun-19
Amount 6.00p 15.80p