FDBusiness.com

Improved Trading Performance by Uniq

 Breaking News
  • Unilever Delivers Solid Volume Growth Unilever has announced its results for the first half of 2018, which show a solid all-round performance despite some challenging markets. Turnover decreased 5.0% to €26.4 billion including an adverse translational currency impact of 8.9% but underlying sales growth excluding spreads was 2.7% with volume 2.5% and price 0.2%. Unilever’s underlying operating margin improved by [...]...
  • Arla Foods Warns of ‘Dairy Dilemma’ of Impossible Choices Post-Brexit At a recent event held at the London School of Economics (LSE), pan-European dairy co-operative Arla Foods warned that if the findings of a LSE report prove true, non-tariff barriers to trade and restricted access to labour after Brexit will leave British consumers facing a dairy dilemma which could see the availability of butter, yoghurts [...]...
  • McCann’s Irish Oatmeal Sold to B&G Foods TreeHouse Foods, the US-based food and beverage group, has completed the sale of the McCann’s Irish Oatmeal brand to B&G Foods for $32 million, subject to customary closing and post-closing adjustments. The McCann’s Irish Oatmeal brand generated sales of approximately $13 million in 2017. The transaction is expected to have a negligible impact on TreeHouse’s [...]...
  • European Olive Oil Market Worth €3 Billion – Shoppers Focus More on Quality Than Price Poor harvest conditions continue to provide a challenging backdrop to the Olive Oil market, according to the latest analysis of value and volume sales across Europe (UK, France, Germany, Greece, Italy, Spain and the Netherlands) by IRI, the big data and technology expert for consumer industries. While six of the seven countries analyzed post value sales growth close to 6% [...]...
  • Countdown Begins to the UK’s Leading Processing & Packaging Machinery Event – NEC Birmingham- 25-27 September 2018 Celebrating its 30th anniversary this year, the PPMA Show will return to the NEC Birmingham from 25-27 September 2018 to showcase the latest innovations in smart manufacturing, processing technology and packaging machinery, aimed to increase production line efficiencies and enhance business performance and profitability. New to the show this year will be the Enterprise Zone, [...]...

Improved Trading Performance by Uniq

Improved Trading Performance by Uniq
September 19
14:25 2011

UK convenience food processor Uniq has continued to improve its trading performance in the first half ended June 30th 2011. Operating profit before significant items and group costs improved by 47% to £4.7m, compared to the corresponding period last year, on the back of improved trading in the compay’s food to go division and as a result of further restructuring within desserts.

 

Uniq’s balance sheet has also been transformed through a successful restructuring which removed the disproportionately large pension deficit. The pension restructuring gave rise to a significant credit to the profit and loss account and as a result shareholders’ funds improved from a negative position of £21.9m at 31st December 2010 to a positive £108.9m at 30th June 2011. The financial transformation enabled the group to conduct a sale process, initiated by the Pension Scheme, which resulted in a recommended offer from rival convenience food group Greencore.

 

Food to go sales increased by 9.0% reflecting continued strong growth in sandwiches on the back of a continuous programme of successful new product development. The growth in profitability to £5.8m, from £5.0m in the same period last year, reflects the division’s ability to manage profit margins through efficiency and tight control of costs in the face of higher raw material prices.

 

Desserts sales fell by 8.2% as a result of the loss of some low margin everyday desserts business, following the price increases pushed through in 2010 and as a result of the planned exit of cottage cheese. Positive progress was made in sales of premium desserts, reflecting the more favourable market dynamics in this sub-sector, while the sales of Cadbury chocolate desserts were flat. Despite the overall fall in desserts sales, the level of loss in this division reduced again to £1.1m compared to a loss of £1.8m for the same period last year.

 

Uniq’s acquisition by Greencore is subject to the outcome of the review by the Office of Fair Trading which is expected by the end of September 2011.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements