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Hilton Food had one messy half, but investors liked the main course. Seafood dragged, vegan food got shown the door, and the profit outlook still moved higher.
Hilton Food Group shares surged more than 13% after the UK food processing and packing group raised its full-year adjusted profit guidance following a better-than-expected first half.
For the 26 weeks to June 28, revenue rose 15.3% to £2.3 billion (about $2.7 billion), while total volumes increased 2.1%. On a constant-currency basis, revenue was up 11.5%.
Adjusted profit before tax from continuing operations fell 5.2% to £32.8 million, but still came in ahead of expectations. The core meat and fresh prepared foods businesses performed well, offsetting weaker seafood results.
#profit
Hilton Food had one messy half, but investors liked the main course. Seafood dragged, vegan food got shown the door, and the profit outlook still moved higher.
Hilton Food Group shares surged more than 13% after the UK food processing and packing group raised its full-year adjusted profit guidance following a better-than-expected first half.
For the 26 weeks to June 28, revenue rose 15.3% to £2.3 billion (about $2.7 billion), while total volumes increased 2.1%. On a constant-currency basis, revenue was up 11.5%.
Adjusted profit before tax from continuing operations fell 5.2% to £32.8 million, but still came in ahead of expectations. The core meat and fresh prepared foods businesses performed well, offsetting weaker seafood results.
#profit
3 days ago
