Food Group said that the first half of the year has been in line with the board's expectations. Hilton operates a retail meat packing business and supplies retailers throughout Europe and Australia.The fact that sterling is strong has had an impact on their performance, and they said that the continuing appreciation of sterling will affect the full-year results. They also said that full results would be affected by the challenging conditions faced by consumers in some countries.
They have seen growth in the UK as a result of an agreement with Tesco and they have benefitted from lower raw material prices in western Europe. They noted that they are now starting to reap the rewards of new product lines which they introduced in 2013 in the Netherlands, while the Swedish business has progressed well from the renewal and extension of facilities. However, the Irish business remains constrained by local conditions.
In Australia they are in the progress of constructing a new plant, together with their joint venture.
The group remains in a strong financial position and are constantly exploring opportunities to grow the business. They expect to publish their half-year results on September 9.
