Business Hilton Food Group publishes results
Seachill was successfully integrated into the Group and is trading well with the new business wins to expand further. The commencement of Hilton production in Australia is from the satellite facility in Brisbane; the new factory expected to open ahead of schedule in Q3 2019. The full operational control of Australian joint venture facilities from July 2018 with 15 year long term supply agreements is in place. The joint venture agreement to invest in leading Dutch vegetarian product manufacturer Dalco is completed since the year end following competition authority clearance. The Launch of fresh convenience foods in Central Europe was started.
The volume growth of 13.5% was driven by a full year contribution from Seachill plus the facilities in Australia. The turnover was up 21.5% and 21.9% on a constant currency basis. The adjusted operating profit growth of 27.1% and 28.2% on a constant currency basis with IFRS growth of 31.9%. There is a strong operating cash generation and significant £99 mill. investment in facilities to support future growth.