Download 22nd July 2010 HILTON FOOD GROUP plc Trading update to 18th

22nd July 2010
HILTON FOOD GROUP plc
Trading update to 18th July 2010
Hilton Food Group plc (“Hilton” or “the business”), the leading specialist meat packing
business supplying major international food retailers in Europe, is today providing an
update on trading for the 28 weeks ended 18th July 2010.
Trading for the period has been in line with the Board’s expectations, driven by volume
growth across both Western and Central Europe. Raw material pricing remains relatively
stable across most of our markets.There has also been evidence within the business of
some uptrading by consumers.
Against this background, we are pleased to report progress on a number of key
initiatives.
Good progress is being made with the development of the new facility in Denmark.
Construction of the building is underway and we remain on schedule to commence
production in the second quarter of 2011.
We have delivered strong volume growth in Central Europe, where we have grown
customer volumes and continued to roll-out exports to Rimi stores in the Baltic states of
Latvia, Lithuania and more recently, Estonia.
For the remainder of the year, we expect that customers and consumers will continue to
look for good value. Hilton will continue to work very closely with its customers and our
business model is well placed to support them according to consumer demand. We will
continue looking to grow our business with our existing customers and also by exploring
geographic expansion prospects.
Robert Watson OBE, Chief Executive, commented:
“We are pleased to have continued growing volumes across the business. Although
there may be further economic challenges ahead, we believe that Hilton will continue to
make progress during the second half of the year.”
Hilton is intending to publish its half year results on Tuesday 14th September 2010.
Contacts:
Hilton Food Group
Robert Watson,OBE, Chief Executive
Nigel Majewski, Finance Director
Citigate Dewe Rogerson
Tom Baldock
Tel: +44 (0)1480 387214
Tel: +44 (0)207 282 2993