UNIQ Uniq

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RNS Number : 8280M

Uniq PLC

22 August 2011

Uniq plc

("Uniq")

Desserts Restructuring

Uniq, the UK focused chilled food group, announces the results of an in depth review of its desserts division. Uniq has decided to focus on its growing, premium dessert and Muller/Cadbury desserts businesses and to exit its loss making everyday desserts business.

This will result in the transfer of certain selected premium desserts sales from Uniq's Minsterley site to its Evercreech site and the cessation of production at Uniq's everyday desserts business unit at Minsterley in the first half of 2012, with the loss of approximately 350 jobs. The everyday desserts sales being exited are approximately GBP36 million*. The total cash cost of this restructuring is estimated to be approximately GBP10 million, including capital investment.

Having previously announced in July 2011 the withdrawal from the premium differentiated yogurt market after April 2012 (sales of approximately GBP13 million*) , this will leave the Minsterley site employing around 100 people focussed solely on the attractive Muller/Cadbury chocolate desserts business. The Evercreech business, having already exited cottage cheese in 2011, will become a focussed premium desserts supplier.

Uniq intends to publish its half year results to 30 June 2011 on 16 September 2011.

*Sales figures are based on sales for the year ended 31 December 2010, adjusted for the previously announced loss of GBP14 million of sales.

 
 For further information: 
 
 Uniq plc                                       +44 (0)1753 276011 
 Geoff Eaton              Chief Executive 
 Martin Beer              Finance Director 
 
 Investec Bank plc (Nominated Adviser and 
  Broker)                                       +44 (0) 207 597 5970 
 Clifford Halvorsen 
 David Anderson 
 
 MHP 
 Tim McCall                                     +44 (0)20 3128 8791 
 

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The company news service from the London Stock Exchange

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