Hilton Food full-year trading in line

In an update for the year to 2 January 2022, the company said growth was driven mainly by organic expansion. Over the two-year period, it saw "strong, sustained" growth, as it delivered towards its goal of becoming "the global protein partner of choice".

The company saw double-digit growth in Australia, where it is operating as a unified business covering the sites of Bunbury, Truganina and Heathwood. The New Zealand facility - Hilton’s first multi-protein food park - opened in early July and volume has continued to grow during the course of the year, it said.

Hilton said it was continuing to make good progress across Europe, with strong growth on a two-year basis. As expected against strong prior year comparatives, regional revenue for the year was broadly flat as more people ate out following the reopening of food service in the second half.

In the UK, meanwhile, there has been strong growth in the slow cooked business, while in Central Europe, there has been continued volume growth in fresh food across its customers.

"Hilton's trading outlook remains positive, with growth prospects underpinned by the expansion plans previously announced, the four recent acquisitions of Dalco, Fairfax Meadow, Foppen and Agito, as well as further opportunities arising across our markets by the development of our cross category business and the application of Hilton's supply chain management expertise," the company said.

"Funding is in place to cover the announced expansions and the group's financial position remains strong. We will continue to explore opportunities to grow the business in both domestic and overseas markets."