First-half operating profits at Hilton Food Group increased by 9% to £18.8m. Revenues were up by 9.3% to £690.7m driven mainly by an 8.7% increase in sales volumes to 160,848t. The volume growth was driven by Australia, Ireland, Sweden and Portugal and was partly offset by a more challenging market in central Europe, according to the group. When the effect of exchange rate is stripped out, turnover was up 3.3% which reflected raw material prices increases.
Operating profit margins across the UK, Ireland, Holland, Sweden, Denmark and Portugal were similar at 3%. Turnover in these western European countries increased by 4.1%, boosted by higher raw material prices increases and favourable mix.
The group sold higher volumes in Ireland and Sweden, while market conditions in Holland remained challenging. Hilton has continued to grow volume and profit, despite consumer spending remaining subdued across Europe coupled with competitive retail markets.
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First-half operating profits at Hilton Food Group increased by 9% to £18.8m. Revenues were up by 9.3% to £690.7m driven mainly by an 8.7% increase in sales volumes to 160,848t. The volume growth was driven by Australia, Ireland, Sweden and Portugal and was partly offset by a more challenging market in central Europe, according to the group. When the effect of exchange rate is stripped out, turnover was up 3.3% which reflected raw material prices increases.
Operating profit margins across the UK, Ireland, Holland, Sweden, Denmark and Portugal were similar at 3%. Turnover in these western European countries increased by 4.1%, boosted by higher raw material prices increases and favourable mix.
The group sold higher volumes in Ireland and Sweden, while market conditions in Holland remained challenging. Hilton has continued to grow volume and profit, despite consumer spending remaining subdued across Europe coupled with competitive retail markets.
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