Vimto maker Nichols sees sales rebound
Vimto supplier Nichols has seen a rebound in sales with revenues up by 22%.
Sales of the drink, which is popular in the UK, the Middle East and Africa, has grown to around £144.3m, which is broadly in line with 2019 figures.
In a trading update for the 12 months to 31 December 2021, the group said it expects to report adjusted pre-tax profits of between £21m-£22m.
In the international route to market the brand continued to see progress year-on-year, “with strong double digit revenue growth versus the prior year.”
The Out of Home route to market continues to recover from the impact of the pandemic. Nichols saw growth of 77% year-on-year.
However, OoH revenues remain significantly down compared to 2019 (31%).
Nichols said given the ongoing impact of the coronavirus pandemic on the OoH drinks market, and current profitability within this route to market, the board is currently revisiting the estimates it uses to support the OoH balance sheet carrying value as part of preparing the Group’s audited annual results.
The Group will publish its 2021 preliminary results on 2 March 2022.