FDBusiness.com

Recovery Continues at Restructured Uniq

 Breaking News
  • Fi Europe Innovation Awards – The Shortlisted Companies One of the highlights at Fi Europe & Ni is the announcement of the winners of the Innovation Awards. The competition not only rewards the most innovative products and concepts, it also acts as a reliable trend barometer. The ten-member jury, chaired by Peter Wennström of The Healthy Marketing Team, presents a shortlist of the [...]...
  • Advetec Targets Food and Drink Manufacturers With Next Generation Organic Waste Digester To reduce food processors costs, Advetec, a leading specialist in the treatment and reduction of solid and liquid organic waste, has launched the Advetec XO, an evolution of the company’s successful Bio-Thermic Digester (BTD) technology. The system is designed to rapidly reduce organic content within waste at source,cutting off-site transportation and processing costs and helping food manufacturing companies [...]...
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...

Recovery Continues at Restructured Uniq

Recovery Continues at Restructured Uniq
April 27
11:26 2011

Uniq, the UK convenience food group, has continued the improvement in its financial performance by reporting an operating profit before significant items of £4.1m in 2010 compared to a loss of £1.9m in 2009. Turnover rose by 6.8% to £312m in 2010.

Although the figures are a vindication of the board’s strategy of transforming Uniq into a high quality UK focused private label business in the food to go and desserts sectors, it became increasingly clear during 2010 that the speed and scale of the repositioning could not meet the growing demands of the group’s pension liabilities. On February 9th 2011, the company reached agreement with the Trustee of the Uniq Pension Scheme on the terms of a restructuring of the company. This released the company from its obligations to the Pension Scheme in exchange for a 90.2% equity stake.

The food to go business increases sales by 13% to £157m and profits by 51% to £11m. Uniq’s desserts sales rose by 1.5% to £155m and losses were reduced by 6.9% to £2.7m. Uniq has now conducted a comprehensive review of its desserts business and formulated profit improvement plans

”This is a strong set of results and a credit to our management and employees who have focused so successfully on service and innovation in difficult circumstances. Having delivered the pension solution and with a positive outcome from the Desserts review, we are now well placed to develop the full potential of this business,” says Geoff Eaton, chief executive of Uniq.

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