UNIQ profit warning
16 February 2001
UNIQ profit warning
UNIQ, the troubled food and logistics group, announced a profits warning on Monday that triggered its share price to dive 13%.
Malton Foods, its pig processing arm, continued to trade at a loss, mainly due to the strong £ and higher UK pig prices compared with the Continent.
But Uniq indicated that a recovery plan at Malton, coupled with lower UK pig prices, should pave the way for profits again next year.
However, most analysts now predict the group is ripe for break-up, particularly as the company said it was seeking an "industry solution" for Malton.
Uniqs pre-tax profits this year before exceptionals are expected to be "no less than £60m", compared with over twice that last year. *
See more