UK-based chilled foods company Uniq has said the organic growth of sales for the first quarter of its fiscal year is more than 10% ahead of the same period last year, helped by currency movements and the timing of Easter.
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Speaking at Uniq’s AGM, chairman Nigel Stapleton said that adjusting for the impact of currency and Easter, sales were up 5%, which was a “considerable improvement” on last year when there was a slight underlying decline.
Stapleton said the improving sales trend that began in the latter part of 2002/03 has continued into the current year, thanks in part to an increase in Uniq’s media and marketing spend.
“Our markets remain extremely competitive across Europe. Nonetheless, our French business has continued its recovery and we have seen an uplift in sales from our German business. To counterbalance the pressure on margins, both from customers and from raw material costs, we have expanded our purchasing initiatives and commenced a review of our supply chain costs,” he said.
“We are, therefore, confident we can continue to make good progress in improving Uniq’s financial performance,” Stapleton added.
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By GlobalData
