Uniq turns profit in UK but suffers overall loss
04 April, 2008
Uniq, the European convenience foods group, returned to profitability in the UK, according to preliminary company results for 2007. However, the group's overall pre-tax losses stood at £44.1 million after significant items, including restructuring costs.
Overall group sales for the full year were up by 2.9% to £736.1m.Uniq said its Northampton operation continued to lead the way in terms of "customer intimacy and innovation". It supplies Marks & Spencer and airline caterers with sandwiches, wraps and other food-to-go items.The sale of St Hubert, the French spreads business, and the Belgian salads operation, for a total of £288m, allowed the firm to pay off its bank debt. The firm admitted progress in Northern Europe in the second half of 2007 had been disappointing, with a 2% decline in sales. Chief executive Geoff Eaton said: "Our progress in 2007 was delivered in the face of increasingly harsh economic circumstances, which have continued into 2008."