MEAT packager Hilton Food Group said yesterday pre-tax profit for the first half rose marginally as favourable exchange rates helped offset the impact of high meat prices and lower consumer spending in Europe.
Hilton Food said pressure from tight consumer spending and high meat prices are expected to continue in Europe over the rest of 2013, but the company sees full-year profit in line with its expectations.
Pre-tax profit rose marginally to £12.95m for the 28 weeks ended 14 July from £12.53m a year earlier.
Revenue rose about nine per cent to £593.8m.
Hilton Food, generates more than 90 per cent of its revenue from western Europe and warned in January of constrained consumer spending in the region.
City A.M. Reporter