REG - Hilton Food Grp Plc - Full Year Trading Update

Hilton FoodAnnouncement

09/01/2025 07:00

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RNS Number : 6405S  Hilton Food Group PLC  09 January 2025

9(th) January 2025

HILTON FOOD GROUP PLC

FULL YEAR TRADING UPDATE

 

Continued strong volume growth across all regions

Strong Christmas trading period, with performance in line with expectations

 

Hilton Food Group plc ('Hilton Foods' or the 'Group'), the leading
international multi-protein food business, today announces a trading update
for the 52-week period to 29(th) December 2024.

 

Trading

For the full year the Group expects to report results in line with
expectations(1).  Strong trading has continued in the final quarter of the
year across all three geographical operating regions, driven by the core
retail meat volume, which grew by +4.0% compared to the same period last year.

 

·    Core retail meat and foodservice across UK & Ireland saw
continued strong volume and revenue performance in the final quarter.  This
was driven by another successful Christmas trading period and launch of new
premium products.  Seafood has delivered full year profit improvement with
strong volume performance during the festive period.

 

·    In Europe, core meat ranges and convenience meals delivered strong
performance throughout the year, including during the Christmas period. We are
continuing to implement our recovery plan for Dalco within the vegan and
vegetarian segment.

 

·   As expected, raw material price deflation in the APAC region continued
in the final quarter, impacting revenue. However, volumes remained strong,
bolstered by the performance of the BBQ range launched earlier in the year and
by the core product offering.

 

·    Our long-term partnership with Walmart continues to develop and
Hilton Foods Canada remains on track for launch in early 2027.

( )

(1)Based on company compiled consensus on 8(th) January 2025 (adjusted PBT
range of £74-77m, with a mean of £76m)

 

Outlook

The Board is confident in Hilton Foods' outlook for 2025, underpinned by a
strong financial position that allows continued investment in strategic
opportunities.  The Group's highly automated facilities and strong customer
relationships enable the business to effectively mitigate the impact of
ongoing wage inflation, though as an international business, with two thirds
of revenue generated outside of the UK, FX rates continue to be an area of
focus.

The Group expects to publish its preliminary results for the 52 weeks ending
29(th) December 2024 on 8(th) April 2025.

 

Steve Murrells CBE, Group Chief Executive of Hilton Foods said:

"The final quarter of the year has delivered a strong performance, with the
full-year outturn in line with expectations. This success was driven by
another solid Christmas trading period and  underpinned by our innovative
ranges and the growing popularity of beef as a festive centrepiece.

"Our core year-round product ranges, combined with high-quality new product
launches, continue to strengthen our customer relationships, and support our
ongoing success."

 

For further information please contact:

 

 Hilton Food Group plc                    Tel: +44 (0) 1480 387214
 Steve Murrells, Chief Executive Officer

 Matt Osborne, Chief Financial Officer

 Headland Consultancy                     Tel: +44 (0) 20 3805 4822
 Susanna Voyle                            Email: hiltonfood@headlandconsultancy.com
                                          (mailto:hiltonfood@headlandconsultancy.com)
 Will Smith
 Joanna Clark

 

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