Business
Interim results for the 28 weeks to 16 July 2017
Interim results for the 28 weeks to 16 July 2017.
About this update from Hilton Food Group Plc
[{"type":"text","content":"\n \nRNS Number : 4140Q Hilton Food Group PLC 12 September 2017 \n\n \n \n \nTuesday 12 September 2017\nHilton Food Group plc\n \nInterim results for the 28 weeks to 16 July 2017\n \nFurther territorial growth and strategic progress\n \nHilton Food Group plc, the leading specialist international meat packing business, is pleased to announce its interim results for the 28 weeks to 16 July 2017.\n \nFinancial and Strategic Highlights\n \n\n\n\n\n \n\n\n28 weeks to\n16 July 2017\n \n\n\n28 weeks to\n17 July 2016\n \n\n\nPercentage growth\n\n\n52 weeks to\n1 January 2017\n\n\n\n\nVolume * (tonnes)\n \n\n\n160,848\n\n\n147,985\n\n\n8.7%\n\n\n275,213\n\n\n\n\nRevenue\n \n\n\n£690.7m\n\n\n£631.9m\n\n\n9.3%\n\n\n£1,234.5m\n\n\n\n\nOperating profit \n \n\n\n£18.8m\n\n\n£17.3m\n\n\n9.0%\n\n\n£34.3m\n\n\n\n\nProfit before income tax\n \n\n\n£18.4m\n\n\n£16.7m\n\n\n10.4%\n\n\n£33.2m\n\n\n\n\nCash inflow before minorities, dividends and financing\n \n\n\n£16.1m\n\n\n£13.9m\n\n\n15.1%\n\n\n£26.7m\n\n\n\n\nNet cash\n \n\n\n£38.9m\n\n\n£21.6m\n\n\n \n\n\n£32.3m\n\n\n\n\nBasic earnings per share\n \n\n\n19.2p\n\n\n16.9p\n\n\n13.6%\n\n\n33.7p\n\n\n\n\nInterim dividend to be paid on \n1 December 2017\n\n\n5.0p\n\n\n4.6p\n\n\n8.7%\n\n\n17.1p\n\n\n\n\n \n* Volume includes 50% share of the Australian and Portuguese joint venture activities (2016 restated)\n \n \n \n· Volume growth driven by Australia, Ireland, Sweden and Portugal partly offset by challenging market conditions in Central Europe\n \n· Turnover up 3.3% on a constant currency basis, reflecting raw material prices increases, enhanced by favourable currency translation\n \n· Operating profit up 1.4% on a constant currency basis after absorbing start-up costs in Europe, initial Queensland costs and weaker trading in Central Europe,\n \n· Portuguese joint venture has started well with significant volumes\n \n· Agreement since the end of the half year to supply fresh food to Tesco Central Europe\n \n· Continued strong cash generation and an ungeared balance sheet\n \n· Interim dividend increased from 4.6p to 5.0p, an increase of 8.7%\n \nCommenting on the results, Chief Executive Robert Watson OBE said:...