Hilton’s pre-tax profits show a growth of 1.3%
Hilton’s pre-tax profits show a growth of 1.3%
Meat processor, Hilton Food Group has released its financial results for the 52 weeks ending 28th December 2014, which show a pre-tax profit growth of 1.3% to £25.2 million.
Volume sales were also up, rising 3.5% from 223,568 to 231,504 tonnes.
However, unfavourable exchange rates and lower meat prices resulted in revenue falling 2.3% to £1,099 million.
Investment expenditure was up 135.8% to £43.3 million as a result of the company covering necessary major reinvestment programmes in the UK and Sweden according to chief executive of Hilton Food Group, Robert Watson OBE.
Watson said: “The high level of investment made in our meat packing facilities in 2014 was essential to facilitate the Group’s planned future growth.”
Observing the results as a whole he concluded: “Hilton made sound progress in underpinning its future growth strategy, including the continued development of our Australian joint venture and the major UK capacity expansion.”
