Plenty of fizz in for Vimto maker as profits soar
NICHOLS, the North West drinks specialist best known for its Vimto brand, is celebrating a strong half year performance with 3.3% revenue growth to £54.7m and profits up 9.2% to £11.9m.
Earnings per share have risen 8.9% from 23.66p to 25.77p and the interim dividend for the period to June 30 has gone up 12.5% from 8p to 9p.
The listed Newton-le-Willows-based company says its revenue growth has been driven by UK sales, amid “continued challenges” in the home soft drinks market.
This performance has been driven by the strong growth of its Still Ready To Drink range, the launch of Vimto Remix into both still and carbonated categories and the incremental sales from the acquisition of The Noisy Drinks Co.
The company said it expected performance to continue in the second half of 2016.
A statement said: “In addition, we will re-launch the Feel Good brand in the autumn ahead of the important Christmas trading period into both the still and carbonate categories.
“We expect a stronger second half of the year in our Middle East markets and as a result, our total international sales are anticipated to deliver growth for the full year.”
