Hilton Food FY21 Profit Down, Lifts Dividend; Says Confident Of FY22; Names Matt Osborne CFO

Hilton Food Group plc (HFG.L) reported Wednesday that its fiscal 2021 IFRS profit before tax declined 12.3 percent to 47.4 million pounds from last year’s 54 million pounds. IFRS basic earnings per share dropped 7.4 percent to 45.0 pence from 48.6 pence a year ago.

Adjusted profit before tax was 67.2 million pounds, compared to 61.1 million pounds a year ago. Adjusted basic earnings per share were 61.3 pence, compared to 55.4 pence last year.

Group revenue increased 19 percent to 3.3 billion pounds from last year’s 2.77 billion pounds, driven by growth across proteins and geographies. Group revenue went up 21.6 percent on a 52 week constant currency basis.

Volume grew 5 percent on a reported basis and 7 percent at constant currency rates to 492,588 tonnes.

Further, the Board proposed final dividend of 21.5p, taking total dividend for 2021 to 29.7p, up from 26.0p last year.

Looking ahead, Hilton said its Board is confident of making further progress in 2022.

Separately, Hilton Food announced the proposed appointment of Matt Osborne as Chief Financial Officer.

Osborne will assume the CFO role following the company’s AGM on May 24, and will join the Group Board at the same time. He will replace Nigel Majewski, who has informed the Board of his intention to stand down from the Board and step back as CFO having served in the role for 15 years.

Majewski will remain with the business as Director of Investor Relations and Strategic Development.

Osborne joined Hilton in 2018 as the Financial Controller.

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