Sales and earnings growth continue for Nichols
PROFITS at Nichols, the North West company behind Vimto, are on track to be “significantly” ahead after a strong second half.
In a pre-close trading statement non-executive chairman John Nichols said full year revenues were “well ahead of our internal plans” and operating margins are also on target.
A strong trading performance in the first six months of the year continued into the second half said Mr Nichols.
The Haydock-based firm has two divisions – soft drinks, which include the Vimto, Panda and Sunkist brands, and the dispense operation which produces drinks such as Cabana and Ben Shaws which are sold on draught.
“In overall terms we expect the group’s profitability for the year to December 31, 2010 to be significantly ahead of last year and ahead of current market expectations,” said Mr Nichols.
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The AIM-listed company also announced the appointment of Eric Healey as a non-executive director. Mr Healey, a member of the audit committee at the University of Salford and a former senior audit and independent review partner at Grant Thornton, replaces John Bee who departs after eight years on the board.
