12th Jan 2022 10:45
(Alliance News) - Nichols PLC reasserted its earnings guidance on Wednesday after posting steady top-line growth and a rebound in trading.
The Merseyside-based drinks company reported annual revenue for the year ended December 31 of GBP144.3 million, up 22% from 2020 and broadly in line with 2019 levels.
Adjusted pretax profit is expected between GBP21 million and GBP22 million, in line with previous guidance. In a badly affected 2020, pretax profit plummeted 80% to GBP6.5 million.
Nichols said its Out of Home route to market continued to recover from the impact of the pandemic, seeing growth of 77% year-on-year. However versus 2019, Out of Home revenue remained significantly down, by 31%.
The company's flagship Vimto brand continued to deliver a strong performance, the company stated. In the UK, Vimto's brand value increased 5.6% for the year to date, while international revenue experienced strong double digit growth versus the prior year.
Shares in Nichols were down 0.7% at 1,455.00 pence on Wednesday in London.
Annual preliminary results will be published on March 2.
By Will Paige; [email protected]
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