1st May 2019 08:28
LONDON (Alliance News) - Vimto maker Nichols PLC on Wednesday reported a solid start to 2019, with performance in the International division particularly strong.
Overall revenue for the first quarter of 2019 was GBP30.6 million, up from GBP27.8 million, with revenue in International growing 24% to GBP6.5 million.
This comes as Middle East operations returned to growth after a weaker comparable in 2018.
Nichols has had difficulties in the Middle East in recent years, with 2017 profit knocked by the civil war in Yemen, leaving a supply route blocked.
In the UK, Nichols' first-quarter sales rose 6.8% year-on-year to GBP24.1 million.
"Whilst we believe trading conditions will remain challenging in 2019, we anticipate full-year earnings will be in line with market expectations," said Nichols.
Shares were 0.1% lower on Wednesday morning at 1,780.00 pence each.
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