Hilton Food Group lifts revenue and profit with Australian business venture
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Food packing company Hilton Food Group took home 2.7bn last year, as Australian business growth underpinned a revenue boost of 52.9 per cent.
The group continued to grow its plant-based and seafood options which saw revenue rise from £1.8bn in 2019.
The company bought a facility in Brisbane, Queensland and is also set to open a Belgium facility with Dutch retail company Ahold Delhaize.
Basic earnings per share enjoyed a lift to 48.6p, growing 20 per cent from 40.5p.
The group’s operating profit also experienced a small boost of £11.1m, taking the total to £66.9m.
“There remain some uncertainties concerning the full impact of Covid-19, including potential recessionary risks, but our robust and sustainable business model and wide geographical spread make us believe we are well placed to meet any future challenges,” chairman Robert Watson said.
The company reported a strong response to Covid-19, which saw its factories kept open.
Hilton did not escape the pandemic unscathed, however, as it also saw net bank debt grow from £86.8m to £122.2m.
The packing company also pledged to be net-zero by 2050, while its share price sat at 1,118.0 this morning.