Facilities will remain open, Hilton Food confirms
By Abigail Townsend
Date: Wednesday 25 Mar 2020
(Sharecast News) - All of Hilton Food Group's facilities will remain fully functional during the coronavirus outbreak, the international packaging specialist confirmed on Wednesday, as it delayed publication of its full-year results.
The FTSE 250 firm, which has delayed publication at the request of the Financial Conduct Authority, said it had performed "slightly ahead" of expectations in the year to 29 December, with "strong" sales and volume growth "driven primarily by our operations in Australia as well as the UK, and also reflecting good growth in a number of existing and new markets".
Looking ahead, it said: "Hilton's trading outlook remains positive, with significant growth prospects underpinned by previously announced expansion plans in Australia, central Europe and subsequently in New Zealand, as well as the move into fish via the Seachill acquisition and the roll-out of vegetarian products." Hilton acquired chilled fish supplier Seachill in 2017.
The firm also updated investors on the current Covid-19 outbreak.
"We remain focused during these challenging times on the wellbeing of employees and working with our customers...to help meet the currently increasing consumer demand for protein-based products," it said.
"All of our facilities remain fully operational, and in addition, we have established business continuity and flexible buy models and supply options, which may be tested during this period as we continue to play our part in feeding the nation and supporting ongoing demand."
As at 0830 GMT, shares in Hilton were trading 2% higher at 960.0p.
The financial regulator has asked listed companies to delay publication of preliminary results for "at least" a fortnight, to give them more time to assess the impact of the coronavirus and to reduce pressure on staff.
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