April 1, 2011

Hilton Food Group reports rise in 2010 gains

Hilton Food Group, a UK-based meat packer which supplies retailers across Europe, has reported a rise in annual profits in the midst of rising sales across the continent.

The company, which supplies the likes of Tesco and Ahold, booked a 10.7% rise in pre-tax profits to GBP22.2m (US$35.8 million) for the 52 weeks to January 2.

Net profit was up 12.3% to GBP15.7 million (US$25.17 million). Revenue climbed 4.6% to GBP864.2 million (US$1,385.64 million). All results compared to Hilton's last fiscal year, which contained 53 weeks.

Operating profits and turnover were up across both of the company's divisions, which take in western and central Europe.

Chief executive Robert Watson said Thursday (Mar 31), "I am pleased to report that 2010 has been another successful year for the group, building on its strong historical track record. Trading was strong, with good volume growth being achieved at all our facilities and across the range of territories in which Hilton operates."