Hilton Foods Ireland, the Irish subsidiary of Northern Ireland secondary meat processor Hilton Food Group, reported double-digit growth in profits for its 2017 financial year despite the negative impact of sterling volatility.

Accounts filed with the companies office show Hilton Ireland made pre-tax profits of just over €2.3m for its 2017 financial year, which was up 12% on the group’s 2016 performance. Hilton Foods Ireland, which operates from a processing and packaging facility in Drogheda, reported a 9% increase in sales for the year to €127.8m. The company makes all its sales in the UK and Ireland.

Operating profits in the business increased by 6% in 2017 to reach €2.4m, as operating profit margins were maintained at a steady 1.9%. Hilton said trading conditions in the meat retail sector remain “highly competitive”.

Hilton’s facility in Drogheda is supplied with primary meat cuts from Irish meat processors such as ABP and Dawn Meats. These cuts are sliced and packaged for sale in Tesco stores in the UK and Ireland.