Hilton Food Group (HFG) Trading Update summary

Trading performance

• Achieved strong volume growth across all regions, with core retail meat volume up 4.0% year-on-year.

• UK & Ireland saw robust volume and revenue, driven by a successful Christmas period and new premium product launches.

• Seafood segment delivered improved full-year profit, with strong festive period volumes.

• European operations performed well in core meat and convenience meals; recovery plan ongoing for vegan/vegetarian segment.

• APAC region experienced raw material price deflation impacting revenue, but volumes remained strong, supported by BBQ range.

Strategic developments and partnerships

• Long-term partnership with Walmart continues to progress.

• Hilton Foods Canada remains on track for launch in early 2027.

Financial outlook and guidance

• Full-year results expected to be in line with consensus (adjusted PBT range £74-77m, mean £76m).

• Board remains confident in 2025 outlook, supported by a strong financial position and ongoing investment.

• Highly automated facilities and strong customer relationships help mitigate wage inflation impacts.

• FX rates remain a focus due to significant international revenue exposure.

• Preliminary results for the year ending 29 December 2024 to be published on 8 April 2025.