Hilton Foods has published its preliminary results for the year ending 29th December 2024.
Food and supply chain services company Hilton Food Group has released its preliminary results for the year ending 29th December 2024, saying that it has delivered “core retail market outperformance” and is “well-positioned” across multiple international markets.
Retail growth
Strong retail meat volume growth across the UK, Europe and APAC was supported by product improvement, premiumisation and new ranges.
Hilton Foods saw a volume increase of 4.4%, with ROCE up 3.4% ppts to 21.7%. Revenue was up by 1.9% on a constant currency basis, and on a statutory basis, revenue was unchanged from the previous year at £4 billion. Adjusted operating profit increased by 11.9% on a constant currency basis to £104.7 million.
“I’m incredibly proud of our strong performance in 2024, with core retail meat volumes outpacing the market.”
Steve Murrells, Hilton Foods CEO
Hilton Foods CEO Steve Murrells commented: “I’m incredibly proud of our strong performance in 2024, with core retail meat volumes outpacing the market. Our teams have gone above and beyond to deliver high-quality products, exceptional service, and the innovation consumers desire, all while maintaining great value. This unwavering commitment reflects our focus on excellence, compliance, and meeting the highest industry standards to better serve our customers. Through innovation, automation, and strategic partnerships, we continue to unlock new growth opportunities, including our expansion into Saudi Arabia and progress with Walmart in Canada.
“Our team’s commitment ensures we stay ahead of evolving consumer preferences, enabling us to drive category growth and anticipate future demand. With advanced automation, a strong sustainability focus, and a proven track record of successful product launches.
“Hilton Foods is expert in providing the highest levels of customer service and operating the most efficient sites around the world. These attributes underpin our existing relationships and leave us strongly positioned to enter new markets and attract new customers.”
The company said that progress in leveraging technology as a driver of value with highly automated facilities and a roll-out of its “strategic automation programme” was a key differentiator, as well as continued advances in sustainability aligned with customer priorities, which resulted in and improved CDP Climate score.
