Convenience foods group Uniq has reported a pre-tax loss of GBP21.9m (US$43.1m) for the nine months to 31 December.
The company has published results for a nine-month period because it is changing its year end to 31 December. However, Uniq did not provide details for the comparable nine-month period in 2005. Sales for the nine-month period were GBP619.6m.
However, the company said that during the nine-month period it had completed the installation of strong leadership in each division; implemented restructuring plans in France and re-launched the Marie brand; sold its spreads and Belgian salads businesses; and restructured its balance sheet and eliminated debt.
On an operational level, the company said that UK sales had grown by 3% year-on-year, with UK operating losses falling by GBP10.9m on a year-on-year basis. Uniq said it had also strengthened UK customer relationships, and increased operating profit in The Netherlands and Poland.
“We set out to achieve a great deal in 2006 and I am pleased to report that we made good progress on a number of fronts and we are largely on schedule with our plans to unlock the true potential of Uniq,” said CEO Geoff Eaton. “We have begun 2007 with very clear plans and remain confident of achieving significant margin improvement as the year progresses.”
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