Uniq profit warning as Malton loses

By FWi staff

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 Pound 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 60 million”, compared with over twice that last year.