Appetising results at Hilton Food

14th Sep 2010 07:16

Meatpacker Hilton Food served up a 12% increase in half yearly pre-tax profit and said while challenges remain it expects to meet full year expectations."Trading had been encouraging despite the difficult and uncertain economic climate across Europe," the group said in a statement.The group, which supplies supermarkets such as Tesco, Albert Heijn and Ahold, said pre-tax profit rose to £11.5m for the 28 weeks to 18 July 2010 from £10.4m before. Turnover increased 5% to £449.9m.Volumes increased 11% to 102,688 tonnes. Central Europe volumes surged 45%.Chief executive Robert Watson commented, "We have continued to grow our business through new product initiatives, range extension and by achieving growth in developing markets, such as Central Europe." "Hilton, as a business with modern, well invested and flexible facilities, a wide geographic spread and an extensive global procurement reach, remains well positioned should the current difficult economic environment persist," he added. An interim dividend of 2.8p has been recommended compared to 2.6p last year.