Uniq’s UK business is back in the black, despite the own-label manufacturer posting pre-tax losses across the group of £18.5m in 2009.
The loss, increased from a deficit of £0.1m in 2008, was significantly impacted by £11.3m of pension-related costs, Uniq said. Sales were up just 0.2% to £287m.
But Uniq’s UK business posted an operating profit of £4.4m for the year, against a loss of £1.3m last year. It was boosted by £27m worth of new contract wins from Marks & Spencer and The Co-operative Group.
First-quarter sales for 2010 rose 4.2%.
“We have successfully completed Uniq's transformation into a focused UK operation,” chief executive Geoff Eaton said, referring to the sale last year of the company’s French, Dutch and German operations.
He added: “The momentum evident in our strong quarter four results has carried forward into 2010 as we continue to build a business that has the quality and flexibility to grow profitably in the dynamic markets in which we operate.”
Yesterday the group confirmed that interim chairman John Warren would continue in the role on a permanent basis, having succeeded Ross Warburton last year.
Uniq confirms Warren as permanent chair (14 April 2010)
New business helps Uniq back on growth track (19 January 2010)
Uniq continues Euro sell-off with Dutch disposal (17 November 2009)