Hilton Food Upgrades Full-Year Profit Guidance Despite Challenges
Hilton Food Group raised its full-year adjusted profit guidance following a better-than-expected first half, despite challenges in the seafood segment and losses from its vegan business. Revenue for the period rose to £2.3 billion with volume growth of 2.1%, while core meat and fresh prepared foods offset weaker results elsewhere. The company reported an attributable loss due to exceptional costs but maintained a steady dividend, signaling confidence in cash generation. Hilton is streamlining its portfolio by disposing of Dalco, its vegan business unit, which contributed to the guidance upgrade. Expansion plans are underway with new facilities scheduled for Saudi Arabia and Canada expected to open later this year and early next. Capital expenditure remains within target leverage ranges despite rising net bank debt in 2026. Investors responded positively, sending shares up over 13%. The company's focus on core operations, retail partnerships like its relationship with Tesco, and international expansion are key factors behind the improved outlook.
Topics: earnings report guidance upgrade Hilton Food revenue growth