Unigate is considering the demerger of its £622m Wincanton distribution business, chairman Ian Martin told shareholders at its agm. With a group turnover of £2.9bn up to the disposal of its dairy manufacturing arm to Dairy Crest, Unigate's continuing business now turns over £2.2bn. The group, shortly to adopt the name Uniq, will have two distinct revenue streams ­ food and logistics. "The board believes the two businesses should be developed as separately listed entities," Martin told shareholders. As a separate entity, he added, Wincanton would be free to pursue its European expansion in "a focused logistics business". Wincanton made an operating profit of £35m in the year to April 1. The core business of Uniq will be added value convenience foods which offers "good growth prospects through both the cost reductions arising from the restructuring under way and the long-term growth available through pursuing the strategy of building Europe's leading convenience foods business". {{NEWS }}

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