March 28, 2018 / 7:22 AM / 4 months ago

UPDATE 1-UK's Hilton Food's 2017 sales volume up on Seachill acquisition, tie-ups

(Adds details of Seachill deal, tie-ups in Portugal, Australia and shares)

March 28 (Reuters) - British meat packer Hilton Food Group on Wednesday said revenue rose over 10 percent in 2017 as recent tie-ups and an acquisition helped it notch higher sales volume for the period.

The company, which supplies to supermarkets such as Tesco, Ahold, Albert Heijn and ICA Grupen, said sales volumes rose 10.4 percent to 303,881 tonnes aided by the Seachill deal and on tie-ups with partners in Portugal and Australia.

Hilton bought Seachill - a UK-based fish processor - for 80.8 million pounds in October last year.

Sales volume in Portugal rose after the company entered into a joint venture with food retailer Sonae Modelo Continente in January, Hilton Food said.

The company is also restructuring its Australia joint venture with Woolworths and expects to take full ownership of its two existing plants there from July 1.

Revenue for the period rose 10.1 percent to 1.36 billion pounds ($1.93 billion), the company said.

Hilton said sales momentum has continued into 2018 and operating performance in the early months of 2018 has been in line with its expectations.

Shares in the company were trading 3.3 percent higher at 796 pence at 0716 GMT.

$1 = 0.7050 pounds Reporting by Rahul B in Bengaluru; Editing by Sunil Nair

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below