Trade Resources Industry Trends Hilton Food Group Has Witnessed a Decline in Revenue in The First Half Year

Hilton Food Group Has Witnessed a Decline in Revenue in The First Half Year

Global meat packing company Hilton Food Group has witnessed a decline in revenue in the first half of its financial year.

For the 28 weeks to 13 July 2014, revenue was £592.3m, a 0.3%, decline from £593.8m in the first half of the previous year.

Operating profit increased more than 1% to £13.6m from £13.4m, while pre-tax profits rose to £13.1m for the period, up from nearly £13m.

Volumes increased by 4.2%, reflecting the start of the new contractual agreements with Tesco in the UK and the introduction of new product lines in Holland.

Hilton Food Group chief executive Robert Watson OBE said: "There is good underlying momentum in the business. During the year we are progressing a major expansion of our UK facilities, the re-equipment of our facilities in Sweden and the development of a new facility in Victoria, Australia.

"Our aim is to extend the geographic reach of the Hilton model and we continue to look for new opportunities," Watson added.

 

 

Source: http://www.food-business-review.com/news/hilton-food-revenue-down-in-first-half-100914-4368161
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Hilton Food Revenue Down in First Half