International food business Hilton Food Group Plc has reported a “strong” Christmas trading performance and said it is “confident” in the outlook for 2024 in its trading update for the 52 weeks ended 31st December 2023.
The Group said that it had experienced overall revenue increases compared to the previous year, and said that its UK and Ireland business had continued to make progress. The UK Seafood category was reported to have performed ahead of Hilton’s turnaround targets.
Revenue in Europe was ahead year-on-year, and the Group revealed that work to rationalise its Dalco vegetarian and vegan business into a single site had “progressed well” and was nearing completion.
Chief executive of Hilton Foods, Steve Murrells, said: “We finished the year with positive festive trading, and full year performance in line with expectations.
“Our Christmas period was supported by the strength of our high quality and relevant products. Over the year, we have developed our technology and supply chain capabilities, and underpinned by our Sustainable Protein Plan, we have continued to support our customers, providing them with relevant, high quality proteins that consumers want on their plate.
“We were delighted to announce a long term supply agreement with Walmart Canada in September and looking ahead, we remain confident that Hilton’s inherent strengths leaves the Group well-placed to grow further with new and existing customers as we remain focused on becoming the international protein partner of choice.”
Hilton said that it had confidence in its outlook for 2024, which was “underpinned by positive recent trading and the Group’s strong financial position and cash flows with reduced leverage and comfortable headroom”.
