Shares of Hilton Food Group Plc (HFG.L) are down 7 percent on Wednesday's trading after the company said that its fiscal 2025 adjusted profit before tax is expected to be within the earlier given range of 72 million pounds to 75 million pounds.
On the LSE, HFG.L is down 7.0 percent on Thursday's trading at 478.04 pence.
The British food packaging company said that Christmas trading was strong across red meat and salmon, and the Group continues to benefit from the successful renewals of core retail meat contracts in the Netherlands and Denmark.
The company said that Foppen continues to supply smoked salmon to the US from its Netherlands facility following ongoing export restrictions at its Greek facility. US stock write-offs are now expected to be significantly higher than previously indicated and are anticipated to be treated as non-underlying items, Hilton Food Group added.
Looking ahead, the company said export restrictions from Greece to the US are expected to remain in place for at least in the first half of 2026, alongside continued inflationary pressures in beef and white fish. As a result, it now expects fiscal 2026 adjusted profit before tax between 60 million pounds and 65 million pounds.
According to Hilton Food Group, its strategic review is almost complete and the findings and renewed medium-term targets will be published along with the full year results on March 31.
Commenting on the developments, Mark Allen OBE, Executive Chair said, "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."
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