Provisional results for 2022 indicate that Hilton Foods group turnover amounted to £3.8 billion, up 16.5% on the previous calendar year.
The growth was underpinned by a contribution from newly acquired businesses in New Zealand and inflationary impact.
Adjusted operating profit in 2022 was down 3.3% at £71.1 million. The equivalent figure for the year previous was £73.6 million.
Hilton Foods
Hilton Foods operates from two sites on the island of Ireland – one in Derry, the other in Drogheda, Co. Louth. Hilton’s chairman is Robert Watson, a co-founder of the Foyle Food Group.
The business specialises in red meat, seafood and vegetarian/vegan food development-related activities.
Commenting on the results for 2022, Hilton chief executive, Philip Heffer said: “After the challenges we faced last year in our seafood business, we took a series of steps to rebuild profitability and we are now well placed for the year ahead.
“Meanwhile we have continued to deliver on our strategic priorities and to set the business up for long-term, sustainable growth. Our meat category has performed well and we have continued to innovate with new and award winning products.
“We have continued to grow in new and emerging markets following the acquisitions of Foppen and Fairfax Meadow with both these businesses performing well, while also expanding in Asia with Country Foods.”
The company has said that despite significant macro-economic challenges, it has continued to grow volumes every year since Hilton Foods became a publicly listed company in 2007.
“Hilton Foods today is a completely different business from the company we started in 1994,” Heffer added.
Markets
According to the CEO, over 75% of Hilton Foods’ sales volumes are now outside the UK.
The company offers a wide range of protein products and categories and has built a technology services offer which it claims is best-in-class in the industry.
“The global economy today is more uncertain than at any time in the past 30 years, but Hilton Foods is well set for long-term success,” Heffer added.
It has also been announced that Philip Heffer is to step down from the position of Hilton chief executive. He will be succeeded by Steve Murrells CBE, who will take up his new role at the beginning of July this year.
Murrells’ connection to the business dates back almost 30 years, when he was one of Hilton Food Group’s first customers and commercial partners at Tesco.
After serving as CEO of Tulip Ltd., from 2009 to 2012, Murrells was appointed as CEO of Co-op Food, where he oversaw a turnaround in performance and repositioned the business as a leading convenience player.