Hilton Food Group (HFG)

Sector:

Food

Index:

FTSE 250

910.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 942.00p
  • 52 Week Low: 637.00p
  • Currency: UK Pounds
  • Shares Issued: 89.70m
  • Volume: 62,919
  • Market Cap: £816.29m
  • RiskGrade: 184

Hilton Foods FY profits decline, new CEO appointed

By Michele Maatouk

Date: Wednesday 05 Apr 2023

LONDON (ShareCast) - (Sharecast News) - Hilton Foods posted a drop in full-year profit on Wednesday as it announced the appointment of a new chief executive.
In the 52 weeks to 1 January 2023, adjusted pre-tax profit fell 17.4% on the year to £55.5m, while IFRS pre-tax profit was 37.5% lower at £29.6m and adjusted operating profit dipped 3.3% to £71.1m. Hilton pointed to challenges in its UK seafood business, including the impact of unprecedented inflation levels, with price recovery taking longer than anticipated.

There was also further disruption through automation investments which will deliver longer term efficiency benefits, it said.

Group revenue rose 16.5% to £3.8bn, however, underpinned by contributions from newly-acquired businesses, the first full year of trading in New Zealand and the inflationary impact. Volumes grew 4.3% during the year to 513,816 tonnes.

Outgoing chief executive Philip Heffer said: "After the challenges we faced last year in our seafood business, we took a series of steps to rebuild profitability and we are now well placed for the year ahead. Meanwhile we have continued to deliver on our strategic priorities and to set the business up for long-term, sustainable growth.

"Our meat category has performed well and we have continued to innovate with new and award winning products. We have continued to grow in new and emerging markets following the acquisitions of Foppen and Fairfax Meadow with both these businesses performing well, while also expanding in Asia with Country Foods."

Hilton also announced the appointment of Steve Murrells as its new CEO. He will assume the role from 3 July and will join board at the same time.

He succeeds Heffer, who has decided to stand down from the board and step back from running the company after almost 30 years with Hilton Foods, including the past five as CEO.

Hilton said Murrells' connection to the business dates back almost 30 years, when he was one of its first customers and commercial partners at Tesco. After serving as CEO of Tulip from 2009 to 2012, he was appointed as CEO of Co-op Food, where he oversaw a turnaround in performance and repositioned the business as "a leading convenience player".

This was followed by five years as group CEO of Co-op Group.



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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 910.00p
Change Today 4.00p
% Change 0.44 %
52 Week High 942.00p
52 Week Low 637.00p
Volume 62,919
Shares Issued 89.70m
Market Cap £816.29m
RiskGrade 184

HFG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.77% below the market average76.77% below the market average76.77% below the market average76.77% below the market average76.77% 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
50.94% above the market average50.94% above the market average50.94% above the market average50.94% above the market average50.94% 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
28.08% above the market average28.08% above the market average28.08% above the market average28.08% above the market average28.08% 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
19.85% below the market average19.85% below the market average19.85% below the market average19.85% below the market average19.85% 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 12-Jul-2024

Time Volume / Share Price
16:37 1,947 @ 910.00p
16:35 37,555 @ 910.00p
16:35 114 @ 910.00p
16:35 428 @ 910.00p
16:35 420 @ 910.00p

HFG Key Personnel

CFO Matt Osborne

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