Hilton posts growth amind plans to expand plant-baed production

The meat processor reported a 32.1% constant currency growth in sales in the 28 weeks to 18 July 2021 compared to the same period in 2020 – £1.71bn. Adjusted earnings before interest, taxes, depreciation and amortisation grew 27.3% (constant currency) to £63.9m.

Philip Heffer, Hilton chief executive, said the growth was underpinned the strength of its Australian business, as well as organic growth achieved across its portfolio in meat, seafood, plant-based and vegetarian foods.

“This continuing growth shows resilience of our business model and our ability to create sustainable value by working dedicated partnerships with both our customers and suppliers,”​ said Heffer.

“In our meat business, we’ve continued to see consumer demand for our products grow internationally and we’ve continued to grow and diversify our offer during the first half of this year.”

Diversification in plant-based

Hilton continued its diversification into plant-based proteins with the complete acquisition of Dutch vegan and vegetarian food firm Dalco Foods, subject to competition clearance.

Heffer said the business would continue to adapt and respond to the changing tastes and needs of its consumers, with both meat and alternative proteins playing and equal role in Hilton’s future growth plans.

“We’ve obviously seen lots of growth, particularly within vegan and vegetarian, but during COVID we’ve seen a lot of growth in meat as well as fish,”​ he explained.

“We are very happy to diversify across the protein and looking to become the global protein partners of choice for all of our customers.”

Source: foodmanufacture.co.uk