Business
Interim results for the 28 weeks to 13 July 2014
Interim results for the 28 weeks to 13 July 2014.
About this update from Hilton Food Group Plc
[{"type":"text","content":"\n \nRNS Number : 1282R Hilton Food Group PLC 09 September 2014 \n \n\n \nTuesday 9 September 2014\nHilton Food Group plc\n \nInterim results for the 28 weeks to 13 July 2014\n \nBuilding for the future\n \nHilton Food Group plc, the specialist retail meat packing business supplying major international food retailers in Europe and Australia, is pleased to announce its interim results for the 28 weeks to 13 July 2014.\n \n\n\n\n\n\n\n\n28 weeks to\n13 July \n2014\n\n\n28 weeks to\n14 July \n2013\n\n\nPercentage growth\n\n\n52 weeks to\n29 December 2013\n\n\n\n\nVolume (tonnes)\n\n\n121,832\n\n\n116,942\n\n\n4.2%\n\n\n223,568\n\n\n\n\nTurnover\n \n\n\n£592.3m\n\n\n£593.8m\n\n\n(0.3)%\n\n\n£1,124.8m\n\n\n\n\nOperating profit \n \n\n\n£13.6m\n\n\n£13.4m\n\n\n1.1%\n\n\n£25.8m\n\n\n\n\nProfit after tax\n \n\n\n£10.2m\n\n\n£10.0m\n\n\n1.8%\n\n\n£19.4m\n\n\n\n\nFree cash (outflow)/inflow before dividends and financing\n \n\n\n£(2.8)m\n\n\n£8.7m\n\n\n\n\n\n£17.0m\n\n\n\n\nNet debt/(cash)\n \n\n\n£5.6m\n\n\n£1.6m\n\n\n\n\n\n£(4.9)m\n\n\n\n\nBasic earnings per share\n \n\n\n13.1p\n\n\n13.0p\n\n\n0.8%\n\n\n25.0p\n\n\n\n\nInterim dividend to be paid on 28 November 2014\n\n\n3.8p\n\n\n3.65p\n\n\n4.1%\n\n\n12.75p\n\n\n\n\n \nHighlights:\n \n \n· Further volume growth achieved in Western Europe, despite continuing weakness in consumer spending, with UK volumes building following the start of the Tesco contract and recently introduced products performing well in Holland\n \n· Turnover growth held back by currency movements and lower raw material prices. Growth in underlying profitability similarly affected by currency movements, together with start-up costs incurred in Australia and the UK \n \n· Continuing progress achieved with our joint venture in Australia\n \n- conversion of Woolworths' Bunbury facility in Western Australia to expand retail packing completed\n \n- construction of a new purpose built retail packing facility for Woolworths in Victoria on schedule, \nwith operations expected to commence in the second half of 2015\n \n· Strong cash generati...