Hilton Food Group (HFG)

Sector:

Food

Index:

FTSE 250

 916.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 942.00p
  • 52 Week Low: 637.00p
  • Currency: UK Pounds
  • Shares Issued: 89.70m
  • Volume: 0
  • Market Cap: £821.67m
  • RiskGrade: 184

Hilton Foods sees FY operating profit below expectations

By Michele Maatouk

Date: Tuesday 08 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Hilton Food Group warned on Tuesday that full-year operating profits would be below its expectations due to challenges in the UK seafood business and the wider macroeconomic environment.
In its Autumn trading update, the company said volume and revenue have been in line with its expectations, with continued growth in revenue versus the same period a year earlier, although inflationary pressures are providing a headwind.

Trading in APAC has been in line, it said, with the New Zealand food park continuing to make "excellent" progress. In Europe, meanwhile, the company's single customer facilities performed well, with revenue ahead of the previous year, mainly due to higher input prices. Hilton highlighted particularly strong trading in its Scandinavian and Central European markets.

In the group's European multi-customer businesses, overall trading conditions have improved, it said, with the company instigating a number of cost savings initiatives and continued investments in automation.

As far as the UK seafood business is concerned, Hilton said it continues to work closely with its retail partners and has made good progress in either mitigating or passing through unprecedented inflationary costs. "However, with this occurring at a slower pace than anticipated, the process is not fully complete, and will continue for the rest of this year and into early 2023," it said.

As a result, operating profit for the year is now set to be below the group's expectations.

"Despite this the board remains confident that the business is well placed for 2023, with the group's financial position continuing to be strong, with leverage remaining at comfortable levels," it said.

"We have made good progress in ongoing discussions regarding geographic expansion and continue to explore opportunities for growth in our existing markets as we deliver on our strategy of becoming the protein partner of choice."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

HFG Market Data

Currency UK Pounds
Share Price 916.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 942.00p
52 Week Low 637.00p
Volume 0
Shares Issued 89.70m
Market Cap £821.67m
RiskGrade 184

HFG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.88% below the market average74.88% below the market average74.88% below the market average74.88% below the market average74.88% below the market average
85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average
Price Trend
49.41% above the market average49.41% above the market average49.41% above the market average49.41% above the market average49.41% above the market average
44.83% above the sector average44.83% above the sector average44.83% above the sector average44.83% above the sector average44.83% above the sector average
Income
33.59% above the market average33.59% above the market average33.59% above the market average33.59% above the market average33.59% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Growth
18.84% below the market average18.84% below the market average18.84% below the market average18.84% below the market average18.84% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 1
Sell 1
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HFG Dividends

  Latest Previous
  Final Interim
Ex-Div 30-May-24 02-Nov-23
Paid 28-Jun-24 01-Dec-23
Amount 23.00p 9.00p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

HFG Key Personnel

CFO Matt Osborne

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