FDBusiness.com

Improved Trading Performance by Uniq

 Breaking News
  • Danish Crown Presents its New Brand Identity Farmer-owned Danish Crown is setting a new direction towards a more sustainable future from farm to fork. A new brand and narrative will make it clearer to customers and consumers that Danish Crown has started this transformation. At the same time, Tulip Food Company is to change its name to Danish Crown Foods. Danish Crown plans [...]...
  • Lantmännen and Yara Lead the Way Towards World’s First Fossil Free Food Chain Lantmännen, the Nordic region’s leader in agriculture, machinery, bioenergy and food products, and Yara, thespecialist in agricultural products and environmental protection agents, are taking a pioneering role in the transformation of the food system. The partners will launch a pilot project with the ambition to introduce the world’s first certified fossil free food chain. This move [...]...
  • High Quality Content Sees Packaging Innovations London Break Records Packaging Innovations and Luxury Packaging London celebrated its 10th anniversary with standout show content. This included launching three brand-new features, advancing the sustainability debate with a focus on plastic alternatives, and welcoming more exhibitors than ever before. As a result, the show, which returned to London Olympia recently, boasted a nine percent increase in visitor numbers, with more than 4,700 [...]...
  • Nestlé Inaugurates Packaging Research Institute Nestlé has officially inaugurated the Institute of Packaging Sciences, the first-of-its-kind in the food industry. The new Institute enables Nestlé to accelerate its efforts to bring functional, safe and environmentally friendly packaging solutions to the market and to address the global challenge of plastic packaging waste. Mark Schneider, Nestlé CEO, comments: “Our vision is a world [...]...
  • Three Meals a Day – The Key to Boosting Digestive Health Markets? The traditional pattern of breakfast, lunch and dinner may hold the key to boosting digestive health markets, according to Kerry Group, the makers of the leading probiotic, GanedenBC30®. A new GanedenBC30 report notes that 85% of consumers say they are interested in buying products with digestive health benefits, but only 45% actually do.1 Additional insights report on key [...]...

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

  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements