GLOBAL - Specialist international meat packing business, Hilton Food Group, has reported that the company has performed in line with the board’s expectations in a report previewing the publication of the annual results in March.
The company said that in western Europe, additional volumes in the UK business as well as higher volumes in the Netherlands were the primary drivers of growth.
Volume growth in these countries was partly offset by weak demand in Ireland, which has now resumed growth and lower volumes in Denmark.
Performance in Sweden was steady.
In Central Europe, which remains a competitive environment, the group said its performance has been in line with expectations, with growth achieved in Poland.
The company said that turnover continues to be adversely affected by the impact of foreign exchange translation and lower raw material prices.
Hilton said its joint venture in Australia continues to make good progress.
The Bunbury conversion is complete and continues to perform well, with the Victoria plant on schedule to open in the third quarter of 2015.
“The outlook for 2015 remains positive, with the facility investment in Huntingdon expected to be commissioned by the end of the first quarter of 2015, despite some markets in continental Europe expected to remain subdued,” the company said.
“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.”
The Group will to publish its full year results on 25 March.
TheMeatSite News Desk