Uniq revealed today (25 March) that it returned to profit in 2007 on the back of increased group revenues and an improved performance at its UK and French businesses.
Revenues rose 2.9% to GBP736.1m (US$1.465bn), while operating losses dropped GBP7.3m to GBP3.6m. Pre-tax profit increased to GBP1.9m, up from a loss of GBP21.9m last year.
The company’s results reflected the positive impact of the GBP235.3m sale of the St. Hubert business to Dairy Crest last January, a return to profit in the UK and France and a stabilised performance in Northern Europe.
While Uniq said that it is well placed to continue improving margins, in its preliminary results release the European convenience food group acknowledged that the tougher economic environment could slow its recovery in the short term.
Our businesses are now better prepared for the tougher economic environment we face in 2008,” chief executive Geoff Eaton said. “While the short-term outcome carries uncertainties, there remains considerable potential for improvement on profit margins and return on capital employed across the group.”