Global food producer Hilton Foods Group Plc has published its interim results for the 26 weeks ending 29th June 2025, revealing that its UK seafood performance had been impacted by “softer demand”.
The producer reported an adjusted profit before tax of £33.6 million increased by 3.0% on a constant currency basis and up 0.3% on a reported basis. Statutory profit before tax was down 4.7%. Hilton’s adjusted operating profit reached £46.6 million, down 0.4% from its 2024 adjusted operating profit of £46.8 million.
It saw a volume increase of 2.5%, with revenue up by 10.4% on a constant currency basis. Hilton said this was “driven by significant raw material inflation” across all markets. On a statutory basis, revenue was up 7.6% to reach £2.09 billion.
Looking at its net bank debt, Hilton reached £202.4 million, up from its FY 2024 net bank debt of £131.4 million. The producer said this was a result of “increased tactical inventory holding” and capital spend in Canada.
Convenience food categories reportedly “performed well”, fuelled by rising consumer demand for ready-to-eat and prepared meal solutions across Hilton’s European markets.
Seafood performance disrupted
Hilton stated that its Foppen smoked salmon business in Europe had been impacted by regulatory restrictions on shipments to the US, which it said had resulted in “operational disruptions”. The producer said that to ensure continued availability and unbroken supply to customers, it had temporarily transitioned production to its facility in the Netherlands, while working to resume production in Greece.
In the UK, seafood performance has been impacted by “softer demand” for white fish, said Hilton, which it found was driven by “significant raw material inflation”.
CEO at Hilton Foods Group, Steve Murrells CBE, said: “The first half of 2025 has been shaped by a strong performance in our retail meat and convenience businesses. We remain committed on delivering our full-year results within the range of expectations.
“Whilst we have faced market-driven pressures and some specific operational challenges in seafood, we have responded with agility and continue to have a strong platform in place for future growth. I want to thank all our dedicated teams for their continued commitment.
“International growth with our NADEC partnership in Saudi Arabia and with Walmart in Canada remains on schedule. Our innovative product ranges continue to resonate with customers and seasonal preparations are well underway for the upcoming Christmas trading period.
“We have a simple objective: building upon the core strengths that have long defined the business. Our global capabilities and established customer relationships continue to provide a strong foundation for growth and sustainable returns.
“At the same time, we have commenced a project that focuses on sharpening our future priorities. This includes optimising our organisation to support expansion and create long-term sustainable value for all. Work on these plans is progressing well, and we look forward to outlining them once complete.”
Outlook for 2025
Looking ahead, Hilton Foods said it would address the impact of inflationary trends in white fish, and the operational disruption in Foppen.
It stated that it expected to deliver full year results within its range of expectations, and it commented that its presence in large growing international markets, efficient facilities and processing knowledge would provide a “strong platform” for sustainable growth.
