994.00p-4.00 (-0.40%)26 Apr 2024, 16:35
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Nichols PLC Shares News & Articles

Vimto maker Nichols cancels dividend and withdraws 2020 guidance as pandemic saps profits

Diversified soft drinks group Nichols (NICL:AIM) softened 1.7% to £11.8 on Tuesday following news it now expects to see a 'significant impact' on this year's financial performance due to the coronavirus pandemic.Famed for its iconic Vimto drink, Nichols withdrew guidance for 2020 and cancelled the final dividend in a bid to preserve cash during unprecedented times for the world economy.PANDEMIC-D

Vimto maker Nichols plunges as it warns Middle East sugar tax will hit profits

Shares in soft drinks-maker Nichols (NICL) collapsed 13% to a new three-month low of £14.80 after it warned that a new sugar tax in Saudi Arabia and the UAE could dent its full year pre-tax profit for 2020.Tax authorities in both Middle Eastern countries have recently implemented a tax of 50% on retail sales of non-carbonated sweet drinks.In a trading update, Vimto maker Nichols said the tax will
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