Hilton Food Group has performed in line with management expectations for 2014 with higher volumes in the UK and Holland acting as the main drivers of growth, the meat packer said this morning. However, turnover continued to be adversely affected by the impact of foreign exchange translation and lower raw material prices.
However, weak demand in Ireland – which has now resumed growth – and lower volumes in Denmark partly offset the gains, with performance in Sweden staying steady. Hilton also performed in line with our expectations in central Europe, which it claims remains a competitive environment, with growth achieved in Poland.
“The group’s financial position remains strong, leaving us well positioned for future expansion and we remain well placed to deliver continued growth over the medium term and will continue to explore further opportunities to develop our business in both domestic and overseas markets,” Hilton said.
The suppler added that the joint venture in Australia had made “good progress”, with the Bunbury conversion complete and performing well and the Victoria plant on schedule to open in the third quarter of 2015.