Operating profit turnaround for Uniq

By on April 21, 2021

first_imgChilled prepared food group Uniq has announced continued strong growth in its food-to-go operation, with overall group revenue up 6.8% for the year ended 31 December 2010.Increased sandwich business with Marks & Spencer – its share rose to more than 65% – helped the division to a 51% profit increase to £11m, with sales up 13% to £157m.Overall the firm posted operating profit before significant items of £4.1m, compared to a loss of £1.9m in 2009. Sales were up nearly 7% to £312m. Chief executive Geoff Eaton said the firm serves both large and growing markets. By investment in understanding more about its consumers and innovating to create a regular pipeline of new products, it can benefit from this growth.The firm was recently restructured to negate the effects of its significant pension deficit. In February this year an agreement was reached with the trustee of the Uniq Pension Scheme, which released Uniq from its obligations to the defined benefit section of the Pension Scheme in exchange for a 90.2% equity stake in the company, with current shareholders retaining a 9.8% stake in the company.Eaton said the restructure coupled with the positive outcome of its Desserts business review, means the firm is now well-placed to develop to its full potential.last_img read more

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BETDAQ adopts 0% commission across majority of sports

By on August 30, 2020

first_img Submit Following a number of trial periods, GVC Holdings’ online betting exchange property BETDAQ has introduced 0% commission on the majority of sports on its exchange.The change will see all sports adopt the new commission structure, with football, horse racing, greyhound racing and cricket the only ones not included.BETDAQ managing director Shane McLaughlin said: “Having trialled a 0% commission structure on several occasions earlier this year and seeing how successful it was in terms of liquidity generation and customer retention, we’ve decided to roll it out permanently on the majority of sports.“We have seen really impressive growth in tennis markets over the past 12 months and by introducing this new commission structure we continue to reward customers with a fantastic betting experience whilst our new commission-free initiative means they will increase liquidity and have access to the best price on tennis in the industry.”The exchange has opted to offer 0% commission on the majority of sports following ‘a number of hugely successful trial periods’ carried out during the US Open 2019 and Wimbledon.During the Wimbledon tournament, the exchange saw a 307% year-on-year increase in matched bets, while active users were boosted substantially by 89% in comparison to 2018. Martin Lycka – Regulatory high temperatures cancel industry’s ‘silly season’ August 11, 2020 Related Articles Share StumbleUpon GVC absorbs retail shocks as business recalibrates for critical H2 trading August 13, 2020 Share GVC hires ‘comms pro’ Tessa Curtis to re-energise media profile  August 25, 2020last_img read more

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