Hilton Foods reports strength in red meat category

According to the company, full year 2025 adjusted profit before tax is expected to be within the previously provided guidance range of £72 million to £75 million.

Hilton reported good Christmas trading across its red meat and salmon categories, with “continued strength” in long-term customer partnerships leading to successful contract renewals in its core retail meat partnerships in the Netherlands and Denmark.

Net bank debt is expected to be around £135 million (FY2024 £131.4 million), which Hilton said reflects recent divestments and a planned partial unwind of inventory built in the UK in the first half of 2025 to support peak seasonal demand.

Outlook for 2026

Hilton said it expects restrictions on smoked salmon exports from Greece to the US to remain for at least the first half of 2026 and the inflationary pressures in beef and white fish to continue.

The business said that while it is working on opportunities for business transformation and profit improvement against this backdrop, it remains “cautious” on the outlook for the year, and expects adjusted profit before tax for 2026 to be within the range of £60 million to £65 million.

The group said its strategic review is expected to reinforce its focus on the core meat capabilities “that have underpinned Hilton Foods’ long-term success”, and will aim to identify opportunities for efficiencies and investment, including supporting further growth into new geographies. The full strategic review will be published alongside Hilton Foods’ 2025 full year results in March 2026.

Mark Allen OBE, executive chair of Hilton Food Group, commented: “We’re pleased that Christmas trading was in line with our expectations, which reflects the continued strength of our partnerships with customers.

“However, the group continues to be impacted by the situation at Foppen and sustained elevated inflation levels. Hence, we are taking a cautious approach to guidance for 2026.

“Supported by the board, our strategic review is expected to reaffirm the focus on our core meat capabilities and highlight opportunities to drive sustainable long-term value. I am delighted to welcome Samy Zekhout and Melanie Chambers into their expanded executive roles as chief operating officers.

“With the support of the enhanced leadership structure, we remain confident in Hilton Foods’ long-term prospects. We look forward to sharing further detail, including updated performance indicators and medium-term targets, at the 2025 full year results in March.”