海角视频

Oops.

Our website is temporarily unavailable in your location.

We are working hard to get it back online.

PRIVACY
Manufacturing

Hilton Food Group's full year trading in line with revised expectations after seafood costs soared

Update given to the City by international multi-protein food business with major stake in Grimsby cluster

Hilton Seafood's The Saucy Fish Co has made a return to supermarkets with Asda, having been launched as a Seachill brand. (Image: Hilton Seafood)

Hilton Food Group has told how it anticipates full year results to be in line with its refined expectations.

November saw it reel in profit forecasts due to “unprecedented pressures on seafood”. Shares enjoyed a 12.7 per cent uplift, closing at 618p from the previous day's 548p, on the back of the announcement.

The company is behind two huge plants in Grimsby as well as a smokehouse, having also added Dutch operations in the past year. It started in red meat, diversifying as it has grown with major customers like Tesco.

Read more: Rapid revenue rise for seafood giant Marr as pre-pandemic turnover eclipsed

In a statement to the City, Philip Heffer, chief executive of the FTSE-listed firm said: “During the year, there has been continued revenue growth compared to the same period in 2021, and a pleasing performance in the lead-up to the festive period.

“In the 海角视频 and Ireland we have continued to make progress, with a strong Christmas trading period, whilst also focusing on a number of cost saving initiatives. In addition, we have continued our investments in automation, the benefits of which will be seen in 2023. Recent progress to pass through and mitigate unprecedented inflationary cost increases, particularly in the 海角视频 seafood business, have been encouraging and leave us well placed as we start the new year. This work has progressed alongside a total business review in 海角视频 seafood, which is starting to deliver positive results.”

Philip Heffer, centre, at the opening of the new Hilton Seafood expansion in Grimsby in July. (Image: GrimsbyLive/Donna Clifford)

Major expansion has dominated at the former Coldwater plant on South Humberside Industrial Estate, with high-tech storage operations being added alongside a complete overhaul and expansion of office and employee facilities. It, together with the former Seachill plant on Great Grimsby Business Park, was bought in 2017.

Asia and Pacific markets have seen “strong topline growth” with European revenues also ahead of the previous year.