Hilton Food Group Sees Profits Surge on Increased Volumes
Hilton Food Group’s profits jumped over the first half of the year following significant volume growth in core meats.
The food packaging giant revealed its adjusted pre-tax profits climbed by 37.8 per cent at constant currency levels to £33.5million in the six months ending June.
At the same time, the Huntingdon-based firm’s statutory profits before tax soared by 125.7 per cent to £25.4million.
Turnover declined by 8.4 per cent to £1.9billion, but still tipped up by 1 per cent on a like-for-like basis, helped by retail volumes expanding across all regions.
Overall food volumes increased by 3.2 per cent to 260,907 tonnes, with growth in the UK and Ireland supported by core retail meat and premium tier products and a better performance by its seafood division.
Meanwhile, volumes in Europe were boosted by demand for localised convenience foods across Sweden and Central Europe.
Turnover declined by 8.4 per cent to £1.9billion, but still tipped up by 1 per cent on a like-for-like basis, helped by retail volumes expanding across all regions.
Overall food volumes increased by 3.2 per cent to 260,907 tonnes, with growth in the UK and Ireland supported by core retail meat and premium tier products and a better performance by its seafood division.
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