Shares of Hilton Food Group Plc (HFG.L) are down 22 percent on Tuesday's trading after the company said in its latest trading update that it expects fiscal 2025 adjusted pre-tax profit to be between 72 million pounds and 75 million pounds. This is lower than the earlier projection of annual adjusted pre-tax profit range of 76.8 million pounds to 81 million pounds.
On the LSE, HFG.L is trading down 22 percent on Tuesday at 503.00 pence.
In its trading update for the third quarter ended October 19, the British food packaging business said that the red meat and convenience segment performed well with higher volumes. While the salmon category was helped by high festive demand, the broader UK seafood division was negatively impacted by the ongoing high raw material inflation and low consumer spending.
According to the company, its Foppen smoked salmon business in Europe is experiencing ongoing operational disruptions due to the restrictions on shipments to the United States. On the basis of these factors, the production in Greece is expected to restart this year.
Looking ahead, the company said that in the backdrop of ongoing inflationary pressures and disturbances in the Foppen business, its Board has taken a cautious view of the fiscal 2026 outlook. Hilton Food added that it expects reporting profit in the coming year to be difficult.
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