29th Apr 2015 09:12
LONDON (Alliance News) - Nichols PLC Wednesday said trading for the first quarter of 2015 is ahead of the prior year and is expecting full-year results in line with expectations.
However, the soft drinks group warned that both the UK grocery and soft drinks markets will remain challenging for the remainder of the year.
Nichols also announced that it has bought an initial 48% stake in The Noisy Drinks Co Ltd, although it did not say for how much. Noisy Drinks distributes slush drinks under the Starslush brand and had an annual turnover of GBP6.6 million in its last financial year, according to Nichols.
"During the year we plan to continue delivering our growth strategy with a focus on value over volume. We have already commenced a Vimto sales drive in the Midlands which will continue throughout the summer, this includes increased regional advertising and promotional activity aimed at enhancing distribution in this important region. In our Out of Home business, we will be focused on implementing the new Coca Cola dispense deal as announced earlier in the year," Chairman John Nichols said in a statement.
Shares in Nichols were trading up 1.1% at 1,121.00 pence Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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