Business
Half Yearly Report
Half Yearly Report.
About this update from Hilton Food Group Plc
[{"type":"text","content":"\n \nRNS Number : 5547N Hilton Food Group PLC 10 September 2013 \n \n\n \nTuesday 10 September 2013\nHilton Food Group plc\n \nInterim results for the 28 weeks to 14 July 2013\n \nContinuing turnover growth and geographical expansion\n \nHilton Food Group plc, the leading European specialist retail meat packing business supplying major international food retailers, is pleased to announce its interim results for the 28 weeks to 14 July 2013.\n \n\n\n\n\n\n\n\n28 weeks to\n14 July 2013\n \n\n\n28 weeks to\n15 July 2012\n \n\n\nPercentage\ngrowth\n\n\n52 weeks to\n30 December 2012\n\n\n\n\nVolume (tonnes)\n\n\n116,942\n\n\n116,179\n\n\n0.7%\n\n\n219,217\n\n\n\n\nTurnover\n \n\n\n£593.8m\n\n\n£543.0m\n\n\n9.4%\n\n\n£1,031.0m\n\n\n\n\nOperating profit \n \n\n\n£13.4m\n\n\n£13.3m\n\n\n1.2%\n\n\n£26.0m\n\n\n\n\nProfit after tax\n \n\n\n£10.0m\n\n\n£9.6m\n\n\n4.0%\n\n\n£18.9m\n\n\n\n\nFree cash flow before dividends and financing\n \n\n\n£8.7m\n\n\n£8.6m\n\n\n1.2%\n\n\n£20.5m\n\n\n\n\nNet debt\n \n\n\n£1.6m\n\n\n£14.9m\n\n\n\n\n\n£5.2m\n\n\n\n\nEarnings per share\n \n\n\n13.0p\n\n\n12.8p\n\n\n1.6%\n\n\n24.9p\n\n\n\n\nInterim dividend to be paid on 29 November 2013\n\n\n3.65p\n\n\n3.4p\n\n\n7.4%\n\n\n12.0p\n\n\n\n\n \n· Good progress made with the new joint venture in Australia\n\n \n- conversion of Woolworth's Bunbury facility in Western Australia on schedule\n \n- construction of a new purpose built retail packing facility for Woolworths in Victoria recently confirmed, \n with operations expected to commence in 2015\n \n· Further turnover growth achieved in Europe, reflecting new product introductions, particularly in Holland, and the recovery of higher meat input prices\n \n· Continuing weakness in consumer spending, with volume growth held back both by the higher meat prices across Europe and short term industry issues in the UK and Ireland\n \n· Growth in underlying profitability offset by initial start-up costs of £0.5m incurred for our new joint venture in Australia\n \n· Strong cash generation enabling net debt to be reduced to £1.6m (December 2012: £5.2m)\n \n· ...