Hilton Food Group increases its 2015 interim dividend by 7.9%

DividendMax Ltd.

Hilton Food Group increases its 2015 interim dividend by 7.9%

Equipping and commissioning a new purpose built retail packing facility for Woolworths in Victoria running to plan where production commenced on 1 September 2015.

Strong volume growth in Europe, with UK volumes building under the new Tesco contract, a return to growth in our Irish business and continued growth in Holland where we have supported Albert Heijn with the development of its new innovation centre.

Turnover impacted by adverse currency translation movements which reduced turnover by 7.7% and challenging trading conditions in Sweden and Denmark.

Strong growth in underlying profitability largely offset by adverse currency translation movements in all the overseas territories in which the Group trades. Operating profit excluding the impact of adverse currency translation was 11.3% higher than last year.

Continued strong cash generation and reduction in net debt following the completion of the major capital investment programmes recently undertaken in the UK and Sweden.

Robust balance sheet with the interim dividend increased from 3.8p to 4.1p, an increase of 7.9%

Commenting, Robert Watson OBE, Chief Executive of Hilton Food Group plc said:

"We have achieved good growth despite challenging market conditions in some countries, with profitability at constant exchange rates increasing strongly. Strategically we continue to make sound progress, with the major capital investments made in the UK and Sweden in 2014 now bedded in and the new facility in Victoria, Australia having commenced production. Our aim continues to be to extend the geographic reach of the Hilton model and to explore and evaluate new expansion opportunities as they arise".

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