Uniq Plc Share Discussion Threads

[propane] 12/1/2011 07:56

Uniq beats the weather
StockMarketWire.com
Chilled convenience food group Uniq said group sales were up 3.1% in the fourth quarter, driven largely by strong underlying growth in its Food to Go business.

This comes despite the unfavourable weather conditions during the busiest period of the year.

Sales for the year as a whole grew 6.8% to £312m.

Food to Go sales were up 8.3% in the quarter which mostly reflects underlying growth, having passed the anniversary of the new business wins of 2009. This growth is largely driven by successful innovation and range development in our sandwich business. The full year sales of Food to Go were £157m, up 13.0% on last year.

Overall Desserts sales (including cottage cheese) in the quarter were down 1.7%. The successful innovation programme over the summer was held back by the continued disruption to core sales caused by the price increase flagged in the Q3 update, lower Cadbury sales due to fewer promotions and the previously announced loss of cottage cheese volume.

Uniq said it has decided to stop producing cottage cheese in 2011 and concentrate the resource at Evercreech entirely on specialist desserts.

Underlying Desserts sales (excluding cottage cheese) grew by 6.0% in the quarter and by 5.1% for the year as a whole. The full year sales of Desserts in total (including cottage cheese) were £155m, up 1.5%.

The group's net cash at the end of the quarter was £10m

Geoff Eaton, CEO, commented: 'Our overall performance for 2010 is broadly in line with our expectations, reflecting a stronger than expected performance in Food to Go and continuing losses in Desserts. These results are a credit to the management team and have facilitated further progress towards resolving the legacy pension situation.

'Looking to 2011 we expect to make further progress although rising commodity prices are adding to the pressure of an extremely tough marketplace.'

Pensions Update

Detailed discussions with the Pension Regulator, the Pension Protection Fund and the Trustee of the main Uniq Pensions Scheme on the proposed deficit for equity swap outlined in our Q3 2010 update are continuing. Whilst the discussions have yet to be concluded, the current proposal involves a restructuring of the Company in which the Trustee will release the Uniq Group from its obligations under the Pension Scheme in exchange for a 90% shareholding in Uniq plc and a cash contribution to the Pension Scheme of £15m (for payment into the scheme after settlement of all cessation and related expenses). This replaces the previously proposed share buy-back option.

Discussions are also proceeding well with Lloyds Banking Group for the provision of a £25m facility to the Company, subject to the successful completion of the deficit for equity swap.

Story provided by StockMarketWire.com

[ginty the brave] 11/1/2011 14:15

The Debt will now be repaid leaving around £16mill in the bank.

It's all about the Pension liability now.

[psolomons] 11/1/2011 13:41

Ive stashed mine in the atic till there is substantial news.

[billybankrupt] 11/1/2011 13:35

Where are the usual comments regarding the impact of M&S results

We really have lost interest in this share!!

If we had positive news from Uniq, this board would be flooded with rampers

heh ho

[666james] 10/1/2011 17:04

I should keep my big mouth shut !!

[knowing] 10/1/2011 10:41

Did make me laugh this Am with bid opening at 8 followed by a 100K buy then a 3K sell knocks it down .25

[knowing] 09/1/2011 23:45

Just to add it is reasons like this why it may be time to take the risk

[knowing] 09/1/2011 23:39

I think one of the major factors here is determining valuation once the PF is sorted. If the numbers previously bounded of 70p are correct than it is certainly worth a small investment.

[warranty] 09/1/2011 18:48

GTB, I think circumstances were very different at that time with much speculation over the value of the foreign businessES which I still believe were given away far too cheaply. The UK business seems ok for the moment but my underlying concern is the amount of it with one customer namely M+S. I also still fail to see how the PF can possibly reach funding levels without growth stocks to help. For me bonds can only go one way from here with inflation on the up. Good luck to all holders but for now I'm on the sidelines.

[ginty the brave] 09/1/2011 17:01

Cant find any news in the Sunday Papers.

Just took another look at the graph and the 20 day and 50 MA have just about converged. The last time we saw a golden cross, the share price went from around 9p to around 44p before falling back.

Deja Vu?? You decide...

[warranty] 08/1/2011 19:32

Knowing, I agree the day the PF is sorted positively the share price will rise 100% but if it isn't sorted then the shares will be worth nothing. I'd rather miss the initial surge than lose everything. I agree with GTB though, if you're just after a small punt then jump in but if you're an investor probably best to steer clear for now. My concern as Kangaroo Joe says is that if the PF has no growth assets left how on earth are they ever going to make up the deficit. Surely running a pension fund is matching assets to liabilities and with such a huge deficit without growth I don't see how that can be done.

[knowing] 08/1/2011 00:26

We will see the price jump prior to any news release I'm sure.

[billybankrupt] 07/1/2011 20:07

Holding similart numbers here as RXP, both for 2 years now.
Hope Uniq go thge same way as Roxi did today soon
Patience is running low

The decision has been made on the PF, approval has to be soon

[knowing] 07/1/2011 09:45

Someone paid a premium on PLUS for 100K

[billybankrupt] 06/1/2011 07:59

A rather simplified view of an extremely complex situation

Time will tell, but one thing is for sure, if you intend to have a "fun punt", now is the time.
For us long holders, patience remains the key

[kangaroo joe] 06/1/2011 00:57

Problem is the pension fund (based on published info) has no growth assets left so has missed the recent rally.

Whichever way you look at it you will either be diluted by millions of new shares being issued (and given to the pension fund) or lose the lot 'cause it goes broke.

Extremely brave to invest a lot, but might be a fun punt, if you know what the risks are.

[knowing] 05/1/2011 11:26

warranty the day the pension fund is sorted it will probably open up 100% higher if positive news. Of course 50% lower is also possible. All down to risk reward.

[ginty the brave] 05/1/2011 11:25

Point taken, however as stated before, this is a punt. Time will tell as always!.

Still feel though that with a market value of around £9Mill then this has a considerable upside.

[warranty] 04/1/2011 16:58

GTB, don't waste your money there are much better places for it than here. Why gamble? Wait for a decision on the PF there will be plenty time to get in after if it's positive and no risk to your capital. There's being brave but there's also being foolish!!

[ginty the brave] 02/1/2011 10:57

An interesting punt this one. It's only a year ago that Uniq was one of the highest risers over the previous year. Not the case in 2010 of course.

This is a profitable company but the pension deficit is causing major problems with the share price If this can somehow be addressed then the share price could fly. Profits should also be increasing from the underlying business.

I truly believe this is a great time to buy and I hold plenty. Lots of upside but potentially lots of volatility.

Looking at the charts shows a potential golden cross forming. Might never make it of course but to make money here means taking a position before the masses.

Good luck to all and fill yer Boots before it's too late!!

GTB

[honest crust] 30/12/2010 12:53

Hi Brando, good to see you still keeping an eye here,
Parked mine up in the bottom drawer but still open it now and again just to give them an airing...lol

jotoha2, never been nothing wrong with the company and its operation, its that big pension cloud hanging over it has been the problem and only when that blows away do us (whats left) holders have a chance, so any recovery of the share price will be on the FTSE doing so well and possibility of a behind closed doors deal being done.

Can only hope :-)

HC

[jotoha2] 30/12/2010 11:24

Company looking like it is through the recovery stage , whatever the management and the major holders have in store for us will be interesting, and the mm have a sniff for it , hence the quite and steady rise in the last few sessions ...classic turnaround , reminds me of Charter at 30p , within two years up to £12.00...happy days.

[hungry123] 30/12/2010 10:52

"New high" - You're aving a larf aintcha mate !