Hilton Food Group Plc (HFG.L) announced on Wednesday a significant rise in its first-half profit before tax, which soared by 125.7% to £25.4 million, up from £11.3 million in the same period last year.
Basic earnings per share climbed by 147.4%, reaching 18.8 pence compared to 7.6 pence a year earlier.
The company also reported an adjusted profit before tax of £33.5 million, an increase from the previous year's £26.8 million. Adjusted basic earnings per share rose to 25.8 pence from 21.6 pence in the prior period.
Revenue experienced an 8.4% decline, amounting to £1.94 billion, down from £2.12 billion the previous year. The volume of sales also decreased by 4.2% to 260,907 tonnes, compared to 272,321 tonnes a year ago.
It's noteworthy that the first half of the current year comprised 26 weeks, as opposed to the 28-week period last year. On a like-for-like 26-week constant currency basis, revenue grew by 1%, and volume increased by 3.2%.
The Board has approved an interim dividend of 9.6 pence per ordinary share, marking a 6.7% rise from the previous year. This dividend will be paid on November 29 to shareholders on record as of November 1.
Looking forward, Hilton Foods indicated that it remains on track with expectations for the full year.
