Hilton Food Groups plc continue to operate and to maintain this dividend policy and has approved the payment of an interim dividend of 9.6p per ordinary share (2023: 9.0p). The interim dividend, representing an increase of 6.7% on the interim dividend declared in the prior year, amounting to £8.6m will be paid on 29 November 2024 to shareholders on the register at close of business on 1 November 2024.
Other financial highlights include:
H1 2024 represents a 26 week period and is compared with a 28 week period in H1 2023. Variances below are presented on a reported basis and for a comparable like-for-like 26 week constant currency basis.
Volume increase of 3.2% with revenue up by 1.0% on a like-for-like basis with volume growth offset by raw material price deflation in the APAC region. On a statutory basis revenue down 8.4% to £1.94bn
Adjusted operating profit increased by 23.2% on a like-for-like basis and by 12.2% on a reported basis to £46.9m. Statutory operating profit up 42.3%
Strong free cash flow of £34.7m (2023: £18.9m); remaining a highly cash generative business
Net bank debt of £137.0m (£139.7m at 2023 year-end) (£216.5m at 16 July 2023); period end net bank debt as a proportion of adjusted EBITDA 0.9x (2023 year-end: 1.0x)
