Hilton Food Group PLC reported first-half adjusted profit before tax of 32.8 million pounds, ahead of expectations, prompting an increased full-year guidance range of 66 to 71 million pounds. The company's core meat and fresh prepared food businesses delivered strong profit growth, particularly in the East region, with Central Europe fresh prepared food volumes surging 26%. However, the Foppen seafood business continues to face significant challenges, with operating losses expected to persist into the second half due to margin pressure from salmon pricing and FX movements, and no timeline from the FDA on restarting exports from its facility in Greece. The company is also selling its vegetarian and vegan business, Dalco, to simplify its portfolio, and is on track to launch its new facility in Canada in January 2027, which will be its most automated plant and provide a platform for growth with Walmart.
Hilton Food Group PlcH1 adjusted PBT beat expectations and full-year guidance was raised to £66-71m.
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