The manufacturer which owns the Hilltop Honey brand reported modest revenue growth, reaching £45.4 million in 2025 (up from £44.1 million in 2024), according to its latest Companies House filings.
While sales rose, profits dropped dramatically. Gross profit fell by 4% to £9.3 million, while operating profit took a 35% tumble to £2.46 million. Net profit stands at £1.44 million, down from £2.58 million.
Borrowing also rose from £0.4 million to £1.75 million. At the same time, cash reserves fell and dividend payments more than doubled, reaching over £1 million.
The company cited inflation, shipping costs and interest rates as ongoing risks; which alongside increased payouts to shareholders may explain the profit slump.
The company has continued to invest in the business, injecting money into production capacity, expanding facilities, and automation and operational efficiencies. This is reflected in fixed assets rising from £5.15 million to £6.58 million.
Investment also went into a major rebrand aimed at strengthening Hilltop’s brand identity, improving its market position and supporting its move into new categories including its own peanut butter.
Employees stand at 133, down slightly from 138, with staff costs up (£5.17 million).
The UK remains Hilltop’s dominate market, contributing £42.4 million in revenue. Europe and Ireland saw a sharp increase, more than doubling year on year (from £573,000 to £1.44 million). The US saw a smaller upturn, shifting from £1.42 million to £1.61 million.
These results are the first since Tom Delaney took over as CEO in February 2026, with founder Scott Davies stepping into the role of executive chairman. Under Delaney, the business is eyeing further growth in export markets and e-commerce, with a goal to scale the business to £100 million in turnover.
