Hilton Food Group PLC

Earnings Release • Jul 21, 2016

National Storage Mechanism | Additional information

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RNS Number : 7500E

Hilton Food Group PLC

21 July 2016

21st July 2016

Hilton Food Group plc

TRADING UPDATE

Hilton Food Group plc ("Hilton" or the "Group"), the leading international specialist retail meat packing business, provides a trading update for the 28 weeks ended 17th July 2016.

During the period, the Group's performance has been in line with the Board's expectations. We have continued to grow the business, through additional volumes and close cooperation with our retail partners. The Group has also benefited from the strength of the currencies in which it operates relative to sterling.

In Western Europe, we have made good progress in a number of markets. In the UK, volumes are higher than in 2015, when they were still building up during the bedding-in phase following the expansion of the production facility. In the Dutch market, we  continue to see volume growth. We are also encouraged by the performance of our business in Ireland, where we have seen growth in the first half of 2016. In Sweden, volumes have been flat and turnover up, reflecting the availability and price of Swedish pork. We have also agreed with our customer ICA, the leading retailer in Sweden, to supply fresh pizzas to its stores, which is expected to commence towards the end of 2016.  In Denmark, conditions remain challenging whilst in Central Europe, where Hilton supplies customers in seven countries, we have seen volume growth.

In Australia, the volume build up from the joint venture's plant in Victoria continues in line with the agreed plan.

As indicated in our announcement dated 6th July 2016, we have recently signed a co-operation agreement with Sonae in Portugal which is expected to lead to a joint venture agreement at some point.

The Group's financial position remains strong and Hilton continues to explore opportunities to grow the business in both domestic and overseas markets.

The Group intends to publish its interim results for the 28 weeks ended 17th July 2016 on  13th September 2016.

For further information please contact:
Hilton Food Group plc Robert Watson, OBE, Chief Executive Nigel Majewski, Chief Financial Officer	Tel: +44 (0) 1480 387214
Citigate Dewe Rogerson Maria Darby-Walker Ellen Wilton	Tel: +44 (0) 20 7282 2840 Tel: +44 (0) 20 7282 2849

This information is provided by RNS

The company news service from the London Stock Exchange

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