Hilton Food Group PLC (LSE:HFG) says its performance in 2021 was in line with board expectations, with sales driven by expansion of its organic packaging business.
The food packaging company says performance in the Australian market saw double-digit percentage growth, as it unified its business across several sites. Its New Zealand facility, which opened in July, has also seen volume grow throughout the year.
The European market, however, saw revenues little changed from a year earlier as consumers began to flock to restaurants with the easing of COVID restrictions in the second half of 2021.
The FTSE 250 company completed a number of acquisitions and mergers throughout the year to strengthen its position in different markets.
It acquired the remaining 50% of vegetarian and vegan producer Dalco, as well Dutch smoked salmon producer Foppen, a deal which the Dutch competition watchdogs have now approved.
The company also claims it exceeded its target of recyclable materials in its packaging, with an average of 70% achieved.
Looking forward, the company says it will “continue to explore opportunities to grow the business in both domestic and overseas markets.”
Shares in the company stayed steady, trading at 1076p.