Fizzing sales boost Vimto maker Nichols
NICHOLS, the North West company behind Vimto, says sales are fizzing at home and abroad.
The Haydock-based firm, said its good start to the new financial year had been boosted by the launch of a new Vimto Cherry drink.
Shares rose 4.5p or 1.1% to 400p on the trading update given at the AIM-listed group’s annual meeting.
Non-executive chairman John Nichols said 2009 had been “exceptionally strong” for the company and this had continued in the early part of 2010.
“Sales in the new financial year, despite strong comparatives, are well ahead of last year and our own internal expectations.
“In the UK, turnover is significantly up and we have out-performed the market
as a whole – continuing to improve our market share”.
Mr Nichols said sales of Vimto Cherry – which was launched in carbonated format in January – had “significantly exceeded” initial expectations.
He added: ““Internationally, Vimto has begun the year strongly and we expect a similar trading pattern to last year – with our first half year sales benefiting from the slightly earlier timing of Ramadan in 2010 over 2009”.
The group’s dispense division, which includes the newly-acquired Ben Shaws business, has started the year well, Mr Nichols said.
“With the key summer trading period still ahead, we are extremely pleased with the group’s performance so far and the board is confident of delivering another strong year”.
