Hilton Food Group has warned that “unprecedented inflationary costs” in its Grimsby seafood business will see it fall short on profit expectations for the year.
The company, behind what was Coldwater and Seachill in the town, informed the markets that the sector was in an autumn trading update. Founded on beef, the acquisition of the huge multi-site operations in 2017 was part of a diversification strategy that has seen it emerge as an international multi-protein food business.
While volume and revenues have been in line with the board’s expectations, with continued growth compared to the same period last year, it said “inflationary pressures are providing a headwind”.
