Hilton Food Group, the UK-based meat processor, has said the strength of Sterling against the currencies it normally trades continues to be a major challenge for its business. The company also cited "challenging consumer conditions in some countries".

In a trading statement released covering the 28 weeks ended 12 July 2015, Hilton said despite the significant currency headwinds it is operating against right now, it had continued to grow its business through additional volumes and close cooperation with retail partners.

The company highlighted increased volumes in the Netherlands and the UK, where Hilton has recently expanded its Huntingdon production facility to service increased volumes for Tesco.

Hilton said its Irish business has grown in the first half of this year while market conditions in Sweden and Denmark continue to be difficult.

Hilton operates an extremely narrow customer base, with Tesco by far the group’s biggest customer, accounting for 43% of sales in 2014. On the continent, its major retail partner is Albert Heijn.

The company has production or packaging operations in Ireland, the UK, Sweden, Denmark, the Netherlands and Australia.

Hilton 's Irish factory in Drogheda exclusively supplies all Tesco stores on he island of Ireland.Foyle Meats factories in Donegal, Derry and Omagh are major suppliers of beef to Hilton.