UK chilled foods firm Uniq has reported a rise in half-year earnings following the jettisoning of its unprofitable everyday desserts business.
The company today (16 September) released its half-year results for the six months to 30 June, revealing that profits went up following the scaling back of the desserts operation at Minsterley, with the loss of 350 jobs.
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Operating profit before significant items and group costs improved by 47% to GBP4.7m (US$7.4m) in the first six months of 2011, despite a slight drop in overall sales. Turnover was GBP151.8m, compared to GBP156.3m in the first half of 2010.
The results were also bolstered by a 9% sales jump in its food-to-go division, which the company said reflects “continued strong growth in sandwiches on the back of a continuous programme of successful new product development”.
Irish food group Greencore is in the process of buying Uniq after tabling a GBP113m (US$178.8m) takeover offer earlier this year.
