Hilton Food Group ups dividend payout after year of expansion

 
Caitlin Morrison
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SPECIALIST meat packing company Hilton Food Group announced a 4.3 per cent increase in its dividend for 2014, as pre-tax profit grew slightly.

The group’s profit was up 1.3 per cent, from £24.9m in 2013 to £25.2m last year. Revenue was down by 2.3 per cent, from £1.13bn to £1.1bn.

The firm, which operates in 13 European countries and Australia, said its investment to make increased volumes for UK retailer Tesco was “well advanced”.

Chief executive Robert Watson said that as well as making “sound progress” in its UK expansion, the firm had developed its Australian joint venture with Woolworths.

“The high level of investment made in our meat-packing facilities in 2014 was essential to facilitate the group’s planned future growth,” he added. “We will continue to seek out available opportunities to progressively and profitably expand.”

Shares in the company were up by 2.08 per cent yesterday.