Belfast Telegraph

Hilton Foods, a holding company for 11 subsidiary entities

Company report

Hilton Foods is a subsidiary in the group headed by Hilton Food Group plc. Hilton Foods is registered in Northern Ireland and is the holding company for 11 subsidiary entities registered in Northern Ireland (3), the Republic of Ireland, Netherlands, Sweden, Denmark, Poland, Australia and England and Wales.

Hilton Foods does not consolidate the results for its subsidiaries but does report on the financial implications of this relationship. The principal place of business for the company is in Huntington in Cambridgeshire. One of the Northern Ireland subsidiaries is Hilton Foods UK, formerly known as Hilton Foods (Retail).

As a holding company, this company has a small number of employees, 16, in each recent year. The employment impact of the several subsidiaries is much larger, including some in Northern Ireland.

Each of the four company directors has extensive experience in other businesses with expertise in meat processing. One Northern Ireland director has had other interests in this sector.

This holding company features significant income from shareholdings in the various subsidiaries and most interestingly receives dividends, amounting to £15.7m in 2014 and then passed dividend allocations to the immediate further parent company of £11m. Dividend payments reflect the scale of the operating and pre-tax profits.

Directors report that the company, including through the subsidiaries, is exposed to foreign exchange risks denominated in Euros and Australian dollars. The company has not, as yet, deemed it appropriate to hedge its position.

A defined contribution pension scheme is maintained for the benefit of employees.

Belfast Telegraph

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