AGM Trading Statement

Speaking at its Annual General Meeting today, Nigel Stapleton the Chairman of Uniq plc, the European convenience food group will make the following statement:

"Overall trading during the first three months of the new financial year has been in line with management expectations, which supports our confidence in delivering a significant turnaround in annual performance, sourced largely from a recovery in the UK.

UK sales were ahead in the first quarter by 3% compared to last year, primarily reflecting the impact of the price increases. All business units are well positioned to improve significantly on the prior year performance. There remains a large focus on the recovery at Minsterley which is still progressing slower than planned.

In Southern Europe, the spreads category continues to perform well. Excluding Spain, which is still disrupted following last year's factory fire, divisional turnover in the first three months was in line with last year, with growth in chilled and spreads being offset by the continuing challenges in the frozen market.

Northern European sales in the first quarter were 3% ahead of last year partially reflecting the timing of Easter. Strong performances in Poland, Netherlands and Belgium were offset by a continuing weak sales performance in Germany. The German market remains tough both at a sales and margin level, however, we expect the new management focus to positively impact this business as the year progresses.

Overall, continuing business turnover for the first three months is 2% ahead of the prior year and operating profit is similar to last year after a reinvestment in the brands in Southern and Northern Europe which resulted in media and marketing spend £2.6m higher than last year. The UK operating result is significantly better than the first quarter last year, while in Germany results are down.

We have commenced the sale of Belgian salads and French spreads and the process is in line with plan. We expect these actions to be completed in this financial year and will update the market as appropriate.

For further Information:

Gainsborough Communications
Julian Walker	020 7190 1705