UK – Meat processor Hilton Food Group is expanding its operations both in the UK and around the world.
However, the company says that it has been hit by the rise in the value of sterling in some countries during the first months of this year.
In the UK, the group signed a new agreement with Tesco at the end of last year and volumes have started to build although the company is incurring gresater costs.
In the Dutch market, despite some difficult macro-economic conditions, the company introduced new product lines introduced last year and now it says it is starting to see the benefits.
In Sweden, the group is continuing development work to renew facilities and extend capacity but the Irish business is being constrained by local conditions.
In Australia, development work by the joint venture with supermarket chain Woolworths in Victoria is proceeding in line with the agreed plan with construction well underway and volumes at the Bunbury have continued to build.
Hilton said the group’s financial position remains strong, with capital expenditure in both the UK and Sweden resulting in the expected increase in debt levels.
The company is continuing to explore opportunities to grow the business in both domestic and overseas markets.
TheMeatSite News Desk