Hilton Food performs a little better than expected in 2016

Meat packing business Hilton Food Group said it performed slightly better than it had expected in the year to 1 January thanks to growth in a number of markets and the positive impact of foreign currency translation.

In Western Europe, Hilton continued to grow the business, especially in the UK, where it had a good last quarter and also in Ireland.

In Sweden and Holland, sales were slightly higher, but they fell in Denmark due to lower consumer demand.

In Central Europe, the performance has been in line with expectations as the group continues to adapt its business model to the local environment.

Hilton said it was pleased with the start-up of the pizza businesses in Poland and Sweden, along with the continued success of Hilton Food Solutions, its new trading subsidiary.

The company said its joint venture in Australia continues to make good progress, with the Victoria plant delivering strong year-on-year growth as expected.

“The outlook for 2017 remains positive, with Hilton's growth prospects underpinned by the recently confirmed expansion plans in Portugal and Queensland, Australia. The group's financial position remains strong, positioning us well for further expansion.

“Hilton remains well placed to deliver continued growth over the medium term and will continue to explore further opportunities to develop our business in both domestic and overseas markets.”

At 1218 GMT, the shares were up 5.3% to 666p.