Nichols profit rises on higher sales, margins

Wed, 21st Jul 2021

Soft drink group Nichols posted a rise in first-half profit, underpinned by higher sales of its Vimto brand in the Middle East and Africa. Pre-tax profit for the six months through June jumped to £8.6 million, up from £2.9 million year-on-year, as revenue climbed 14% to $67.4 million. Adjusted pre-tax profit rose 32% to £8.9 million, also thanks to higher margins. Nichols declared an interim dividend of 9.8p per share and stuck to its full-year guidance. 'The UK government's planned roadmap out of lockdown continues and although at a more cautious pace than originally planned, the group's positive start to the year means that we remain confident that it will achieve the board's expectations for the year,' chairman John Nichols said. 'Longer term, the board is currently assessing the impact of inflationary pressures affecting logistics, labour, plastics and costs associated with increasing environmental legislation.' Story provided by

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