UNIQ ORD 1P : 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 £36 million*.  The total cash cost of this restructuring is estimated to be approximately £10 million, including capital investment. 

Having previously announced in July 2011 the withdrawal from the premium differentiated yogurt market after April 2012 (sales of approximately £13 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 £14 million of sales. 

For further information:
Uniq plc		[phone]
Geoff Eaton	Chief Executive
Martin Beer	Finance Director
Investec Bank plc (Nominated Adviser and Broker)		[phone]
Clifford Halvorsen
David Anderson
MHP
Tim McCall		[phone]