Operating profits at the meat processor rose by 18.4% to £34.3m on the back of a 7.4% rise in volumes to 275,213t and a 7% currency tailwind, for the year ended 1 January 2017.

Revenues rose by 12.8% to £1.2bn and once favourable currency tailwinds are stripped out, revenues were up 7.2% on a like-for-like basis. Hilton generated significant cash during 2016. Earnings (EBITDA) increased by 11.4% to £54m. The group saw its net cash position at year-end rise from £12.7m at the end of 2015 to £32.3m at the end of 2016.

This strong ungeared balance sheet would give the group considerable flexibility for potential future expansion.

Its operations in the UK, Ireland, Holland, Sweden and Denmark saw volumes rise by 3.8%. This was driven by good volume growth in the UK and encouraging growth in its Irish business. It recently launched a meat trading company in the UK. Hilton which has production facilities in Drogheda supplies Tesco. In 2016, some 74% of the group’s volumes were produced and sold in countries outside the UK.