Hilton Food Group plc has announced its Q3 trading update for the period from 16th July 2023 to 29th October 2023.

The Group reported a “robust” financial performance and “strong” operational progress, with trading in line with the Board’s expectations.

It said that revenue was ahead of the same period in the prior year, despite the impact of raw material price increases.

Hilton stated that the turnaround of its UK Seafood business continued to deliver against its operating performance targets, with the business operating profitability in Q3 and being on track to do so for the full year.

In the wider UK and Ireland business in Q3, Hilton reported that it delivered revenue and volume growth compared to the prior year. In Europe, its revenue was ahead of the same period in the previous year.

Outlook

The Group’s financial position reportedly remains strong with “leverage at comfortable levels.”

Hilton said: “Our industry leading technology and outstanding multi-category food products provide us with a strong platform for sustained growth and we continue to explore opportunities in our existing and new markets as we deliver on our strategy of becoming the international protein partner of choice.”

The Group expects to announce the publication date for its results for the 52 weeks ending on 31st December 2023 in its January Trading Update on 11th January 2024.