Hilton Food director tucks in

1st Apr 2011 17:08

Colin Smith, a non-executive director at Hilton Food Group has taken his first shares in the meatpacker after it posted a rise in profits.He took 30,000 at 258p a time, spending £77,400.Hilton, whose customers include the supermarket giant Tesco and Dutch retailer Ahold, said pre-tax profits for the year to 2 January were up by 10.7% from the previous 53 week period to £22.2m,. Revenues were up by 4.6% to £864.2m.While volumes of meat packed were up by 9% on a comparable 52 week basis, revenues were up 6% due to an increased percentage of sales from central Europe and a higher percentage of sales of lower priced pork products.Smith, an accountant, used to be the finance boss of supermarket Safeway and has extensive experience in the food and agriculture business. He is currently the chairman of the budget retailer Poundland.