Shares in soft drinks firm hit by sugar tax announcement

SHARES in the North West drinks specialist Nichols, best known for its Vimto brand, took a fall in the immediate aftermath of the Chancellor George Osborne’s Budget announcement of his intention to raise £530m in tax on sugar content of soft drinks.

Osborne said the money raised by the levy would be spent on primary school sports.

Shares in the listed Newton-le-Willows, Merseyside company, started the day at 1,310 and plummeted to 1,166 the wake of his statement before recovering to 1,200.