Vimto maker’s stellar run continues
SOFT drinks firm Nichols this morning announced that it has continued its recent “outstanding” run of financial results, with sales up 18% in 2011 to £98.9m (2010: £83.9m) and pre-tax profits climbing 20% to £18.1m (£15.1m).
The Haydock-based company, which has added to its core Vimto range recently with Levi Roots and Weight Watchers-branded products, said it has achieved a leading market position in both the “Still” and “Carbonated” drinks market, and it has achieved growth in the soft drinks dispense market, where it owns the Cabana and Ben Shaws brands.
The company’s UK sales grew by 15%, which is more than twice the level of the overall 7% market growth, International sales climbed by 31% off the back of stronger sales both in the Middle East and Africa.
Non-executive chairman John Nichols, whose grandfather John Noel Nichols invented the Vimto drink, said: “2011 was another record year with an outstanding performance in the face of the most challenging UK retail environment seen in a decade.
“Our strong portfolio of brands and our growing international presence have helped drive significant growth in sales, profitability and cash generation.
“While 2012 will remain challenging we are confident of delivering profitable growth in the current year and beyond.”
Its stronger performance meant the company finished the year with net cash of £20.1m (£15m) and net assets of £36.3m (£29.3m).
The firm is proposing to pay a final dividend of 10.3p, meaning the total dividend for the year will be 15.3p – a 13% increase on 2010.
