FDBusiness.com

Improved Trading Performance by Uniq

 Breaking News
  • The Zamora Company Moves into American Whiskey The Zamora Company, a Spanish fifth generation, family-owned global wine and spirits business headquartered in Madrid, has acquired an equity stake in Yellow Rose Distilling, a leading American whiskey distiller in Houston, Texas. The Zamora Company is best known for Licor 43, Spain’s leading liqueur brand, as well as Villa Massa Limoncello and a wide [...]...
  • Dunnes Reclaims Top Spot in Irish Grocery Market The latest grocery market share figures from Kantar Worldpanel in Ireland, for the 12 weeks ending 5 November 2017, reveal that Dunnes Stores has returned to the top spot for the first time in nine months, capturing a 22.4% share of the market. David Berry, director at Kantar Worldpanel, comments: “Dunnes Stores traditionally posts a strong performance towards [...]...
  • Cornish Kern From the UK Named World Champion Cheese 2017 Cornish Kern, an alpine-style cheese made by the UK’s Lynher Dairies Cheese Company, has been crowned World Champion Cheese at the 30th annual World Cheese Awards, after just a few years in development. This buttery medium-hard cheese, with a deep aroma and caramel notes, rose to the top among 3,000 entries. The 30th anniversary edition of the awards [...]...
  • GNT Group Supports Next Generation of Food Scientists The GNT Young Scientist Award 2017 goes to Caroline Buvé of Katholieke Universiteit Leuven, Belgium. At the 31st EFFoST International Conference, which was held in Sitges, Spain, from 13th to 16th November, she stood out with her research on quantifying colour changes of pasteurized strawberry juices during storage by integrating analytical and acceptability data. Second and third place went [...]...
  • How Conformity Can Deliver Tangible Business Benefits For Packaged Food Manufacturers Manufacturers and brand owners are under immense pressure to repeatedly produce conforming, high quality, safe and well-presented packaged food to meet industry requirements. Increasingly stringent legislation, innovations in packaged product design and evolving customer expectations mean the need for conformity has never been greater. Industry expert Mettler Toledo has published a free, comprehensive white paper ‘Ensuring Conformity [...]...

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

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements