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Hilton Food H1 Profit Rises On Strong Volume; Sees FY Results Inline With View

Hilton Food Group plc (HFG.L), a food packing business, reported Tuesday that its first-half pre-tax profit, excluding IFRS 16, was 23.2 million pounds, up 10.6 percent from 21.0 million pounds last year.

Basic earnings per share were 21.5 pence, up 7.5 percent from 20.0 pence a year ago.

Including IFRS 16, pre-tax profit for the latest first half was 19.9 million pounds or 17.4 pence per share.

Adjusted profit before tax was 24.5 million pounds, compared to 22.3 million pounds a year ago. Adjusted basic earnings per share were 22.8 pence, compared to last year's 21.2 pence.

Revenue grew 5.6 percent to 912.1 million pounds from 863.6 million pounds last year. At constant currency rates, revenue increased 6.5 percent.

Volume increased 6.8 percent to 193,608 tonnes from 181,255 tonnes a year ago driven by contribution from both UK meat and Seachill.

Further, the company announced that interim dividend increased 7.1 percent from last year to 6.0 pence.

Looking ahead, Executive Chairman Robert Watson OBE said, "Our financial position remains strong and we are well positioned to capitalise on future growth prospects both in domestic and overseas markets as they arise. Our full year results are expected to be in line with the Board's expectations."

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