Trading at UK food group Uniq has been “in-line with expectations” in the first 21 weeks of the year, the company’s board of directors has said.
In a statement released at Uniq’s AGM today (17 June), the company said that overall sales have increased by 2.4% on the same period last year.
Uniq said desserts sales were down 5.9% due to its previously-announced phased exit from cottage cheese and the loss of the “everyday desserts business” at its Minsterley from April.
However, the company added that its premium desserts sales are ahead of last year and its food-to-go sales were up 11.2% on last year.
The trustees of Uniq’s pension fund, which currently holds 90% of the company’s stock, has been looking to sell at least part of its stake since April, only days after it was handed the shares.
Uniq gave the trustees the stake in its business in exchange for clearing the company’s pension deficit, which stood at over GBP400m (US$642m).
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As a consequence of Uniq’s pension trustees taking the 90%-plus stake in the business, the company’s shares are now listed on London’s Alternative Investment Market.
Both Greencore and Ginsters owner Samworth Brothers have been linked as possible suitors for the business.