September 13, 2011 / 6:24 AM / 8 years ago

Hilton Food gains from higher meat prices

(Reuters) - Meat packaging firm Hilton Food Group (HFG.L) said higher meat prices contributed to strong turnover growth in the first half, and posted a 9 percent rise in profit.

The company, which caters to international food retailers like Tesco (TSCO.L) and Ahold AHLN.AS, raised its interim dividend by 11 percent to 3.1 pence and said it was on track to meet its expectations for the year.

“In these difficult times, Hilton continued to benefit from its geographically diversified business model,” the company, which generates nearly three-fourths of its sales outside the UK, said in a statement on Tuesday.

For the 28 weeks to July 17, pretax profit was 12.6 million pounds, compared with 11.5 million pounds last year. Revenue was up 10 percent at 496.2 million pounds.

Hilton Food shares closed at 275 pence on Monday on the London Stock Exchange, valuing the company at about 200 million pounds.

Reporting by Tresa Sherin Morera in Bangalore; Editing by Maju Samuel

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