Hilton Food beefs up FY profit, divi

31st Mar 2010 07:49

Hilton Food served up a 16% rise in full year pre-tax profit as volumes increased and expects further growth in 2010. The meat packaging firm said pre-tax profit was up 15.8% at £20.1m for the 53 weeks to 3 January 2010. Revenue increased 13.2% to £826.1m during the year while volumes increased 14% despite challenging market conditions. Chief executive Robert Watson said, "Trading has been strong and further geographical expansion has been secured." "Good volume and turnover growth was achieved across the range of territories in which Hilton operates, during a year which saw success achieved with new product initiatives and continued investment in our facilities across Europe," he added.Hilton saw volumes increase strongly in Latvia and Lithuania. The group also expects to start production in the second quarter of 2011 from a new facility to supply packaged meat to Danish food firm Coop Danmark. A total dividend of 9.36p has been offered, up 15% from last time.