Hilton Food Group PLC hikes dividend after revenue lifted by home consumption
Operating performance since the start of the new year has been in line with expectations
Hilton Food Group PLC () has hiked its dividend after posting a strong full-year performance driven by a spike in home consumption during the Coronavirus (COVID-19) pandemic.
Operating performance since the start of the new year has been in line with expectations.
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Further growth will be supported by a new facility recently opened in Belgium for Ahold Delhaize as well as a new plant scheduled to start-up in New Zealand in the third quarter this year.
The meat-packing specialist proposed a final dividend of 19p per share, with total dividends for the year surging 21.5% to 26p.
The firm posted a 24% jump in volumes to 469,110 tonnes, with revenue climbing 53% to £2.7bn in the year to January 3.
Profit before tax rose by a quarter to £54mln, though net bank debt ballooned to £122mln from £86mln in January 2020 reflecting higher borrowings to finance expansion plans.
Australian operations delivered growth after the new facility in Queensland was rolled out, prompting an increase in volume.
The FTSE 250 group also continued diversifying its offer into plant-based, seafood and convenience foods.
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