Nichols PLC - Newton-le-Willows, England-based soft drinks maker - Revenue increases 29% to £39.6 million in the first quarter of 2022. Says the Vimto brand has outperformed the wider UK soft drinks market, with growth of 11% in the year-to-date against 9.8% market growth. Notes that its international business had a slower start, as shipment timings were hurt by driver industrial action in Spain. The strikes now have ended and its international shipments have resumed.
Looking forward, Nichols expects to experience ‘significant’ inflationary pressure but has plans to mitigate this, it says. Expects adjusted profit before tax for 2022 of £25.2 million, unchanged from previous guidance. This would be up 16% from £21.8 million in 2021.
Chair John Nichols plans to retire after 15 years as chair and 50 years total with the company. Board commences process to find his replacement. Nichols was founded in 1908 by John Noel Nichols; he created ’Vimtonic’ to give people ‘Vim & Vigour’.
Current stock price: 1,340.00 pence, down 2.2% in London
12-month change: down 5%
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