Hilton Foods Ireland, the Irish subsidiary of Northern Ireland-based meat packer Hilton Food Group, reported steady profits for its 2019 financial year. Recently filed accounts show Hilton Foods Ireland made a pre-tax profit of just under €1.8m for 2019, which was down 1% on the previous year.
Hilton Ireland, which operates from a modern processing and packaging facility in Drogheda, Co Louth, reported a 1% decline in operating profits to €1.9m for 2019, as operating profit margins held steady at a slender 1.4%.
Hilton said the continuing weakness of the pound sterling was having a negative impact on its performance
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Overall, Hilton Ireland recorded a 1% increase in sales during the year to reach €138.5m. Hilton said the continuing weakness of the pound sterling was having a negative impact on its performance, adding that the UK retail sector remained very competitive. Tesco is a key customer for Hilton, accounting for over half of sales. Hilton’s Drogheda facility is supplied with primary meat cuts from processors such as ABP and Dawn Meats. These cuts are then sliced and packaged at the Drogheda facility for sale in Tesco stores in the UK and Ireland.
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Hilton Foods Ireland, the Irish subsidiary of Northern Ireland-based meat packer Hilton Food Group, reported steady profits for its 2019 financial year. Recently filed accounts show Hilton Foods Ireland made a pre-tax profit of just under €1.8m for 2019, which was down 1% on the previous year.
Hilton Ireland, which operates from a modern processing and packaging facility in Drogheda, Co Louth, reported a 1% decline in operating profits to €1.9m for 2019, as operating profit margins held steady at a slender 1.4%.
Hilton said the continuing weakness of the pound sterling was having a negative impact on its performance
Overall, Hilton Ireland recorded a 1% increase in sales during the year to reach €138.5m. Hilton said the continuing weakness of the pound sterling was having a negative impact on its performance, adding that the UK retail sector remained very competitive. Tesco is a key customer for Hilton, accounting for over half of sales. Hilton’s Drogheda facility is supplied with primary meat cuts from processors such as ABP and Dawn Meats. These cuts are then sliced and packaged at the Drogheda facility for sale in Tesco stores in the UK and Ireland.
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