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Hilton Food Group Says Trading In Line With Expectations

Hilton Food Group Plc (HFG.L), a British food packaging business, said in an update on Tuesday that its trading from January 3 to date was in line with the Board expectations, with sales ahead of last year, "primarily reflecting increases in raw materials as well as the execution of growth initiatives."

Looking ahead, the company expects its business to grow up further in the remaining period of the fiscal, despite a number of persisting challenges.

The company said: "Whilst the outlook for the year remains challenging, with the impact of higher input prices potentially reducing volume, we expect to make further progress during the year ahead. We will also continue to implement initiatives and work with customers and suppliers to help mitigate the impact of higher input pricing…"

The Group sees its medium term prospects are also underpinned by the recent acquisitions of Dalco, Fairfax Meadow, and Foppen, as well as other potential growth opportunities.

Hilton Food Group also noted that the financial position remains strong, having put in place committed facilities to cover announced expansion plans with some headroom for further growth.

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