Unigate pre-tax profits rocket 13%

08 June 1998

Unigate pre-tax profits rocket 13%

By FWi staff

PROFITS in dairy giant Unigate rocketed last year.

Impressive performances from the groups fresh food and dairy enterprises helped Unigates overall pre-tax profits rise by 13% to £146.4 million.

The company said its St Ivel foods range – which includes Shape desserts, Golden Churn and Teletubbies yoghurts, performed particularly well.

Pre-tax profits in the companys dairy products arm did even better. They soared 17% to £40.5 million – the first time profits have climbed since the abolition of the Milk Marketing Board in 1994.

Meanwhile, Unigate officials said the group will keep looking for aquisitions, despite its abortive £1.6 billion bid for food-to-furniture group Hillsdown.

Unigates Hillsdown bid collapsed late last month. But finance director John Worby said take-over attempts of similar-sized companies could not be ruled out if they were “right for shareholders.”