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Prices & Quotes - UK Markets - Hilton Food Group (HFG)

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Share Price:
1,222.00p
Change Today:
0.000p
Market Cap:
1,001.39m
Sector:
Food Producers

Australia growth underpins solid year for Hilton Food Group

By Josh White

Date: Wednesday 07 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Hilton Food Group said turnover had improved 50% in its preliminary results on Wednesday, to 2.77bn at constant currency, thanks to strong growth in Australia.
The FTSE 250 food packaging company put that down to the end of a transition period for its joint venture with purchase of the venture's assets, and a full year at its "state-of-the-art" facility in Brisbane.

It said its adjusted operating profit was 22.5% firmer for the 53 weeks ended 3 January, at 67m, while adjusted basic earnings per share were 20.4% higher at 55.4p.

Cash flows from operating activities improved 30.5% year-on-year, to 91.7m.

The company's board proposed a 21.5% hike in the total dividend for the year, to 26p.

On the operational front, the company said it had opened its new facility in Belgium for the Ahold Delhaize supermarket group, with a volume ramp-up underway, while its New Zealand facility was scheduled to open in the third quarter of the year.

Volume growth for the year was 23.8%, within which Australia grew 107.9% and Europe grew 8.5%.

"[Our] response [to Covid-19] underpinned a strong performance with both volume and profit growth and we concluded our joint venture transition period in Australia and purchase of the related joint venture assets while marking our one year anniversary of the opening of our Queensland facility," said chairman Robert Watson.

"In Europe we set up a new facility in Belgium during the year to supply Delhaize and continued to further diversify our product offering in the plant-based, seafood and convenience categories.

"As with all businesses there remain some uncertainties concerning the full impact of Covid-19, including potential recessionary risks, but our robust and sustainable business model and wide geographical spread make us believe we are well placed to meet any future challenges."

At 0913 BST, shares in Hilton Food Group were up 3.76% at 1,160p.

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

 

HFG Market Data

Currency UK Pounds
Price 1,222.00p
Change Today 0.000p
52 Week High 1,332.00p
52 Week Low 996.00p
Volume 108,678
Shares Issued 81.95m
Market Cap 1,001.39m
Beta 0.00

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_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 03-Jun-21 29-Oct-20
Paid 02-Jul-21 27-Nov-20
Amount 19.00p 7.00p

Trades for 07-May-2021

Time Volume / Share Price
16:35 18,893 @ 1,222.00p
16:29 32 @ 1,238.00p
16:29 9 @ 1,238.00p
16:29 3 @ 1,236.00p
16:29 6 @ 1,236.00p

HFG Key Personnel

CFO Nigel Majewski
CEO Philip Heffer