Hilton Food Group reports positive 2011 results

By Melodie Michel

- Last updated on GMT

Related tags Profit

Hilton Food Group reports positive 2011 results
UK processor Hilton Food Group has reported a 13.6% revenue growth in 2011, driven by the opening of a new meat-packing facility in Denmark and the recovery of raw material meat prices.

The company reached £981.3m in revenue and £25.9m in operating profit, compared to £864.2m and £23.3m respectively in 2010. Chairman David Naish said this increase in profits reflected the company’s new business in Denmark, as well as strong economic conditions in Sweden and central Europe.

Hilton’s chief executive Robert Watson added: “Once again I am pleased to report that, during 2011, Hilton has delivered a good performance, continuing to demonstrate the resilience of the group’s business model. Revenue growth was strong in 2011 and further success was achieved with new product and packaging initiatives. We have been able to maintain a high level of investment in our modern meat-packing facilities across Europe, designed to keep them at state-of-the-art levels.”

He hailed the efforts of managers and employees and the success of Hilton’s retail partners in difficult trading conditions.

The company announced its intention to continue its geographical expansion, “whilst very actively developing, enriching and expanding the scope” of its existing business partnerships, as 74% of Hilton’s revenue now comes from outside the UK.

Naish added that chairman Colin Patten would stand down from his board role “in due course” and would not be seeking re-election at the annual general meeting. He thanked him for his contribution and wished him the best in his retirement.

Related topics Meat

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