Vimto firm Nichols ups revenue 21% to £144m

Merseyside-based Vimto and soft drinks firm Nichols plc said its revenues for the year ended December 31, 2021, rose 21.6% to £144.3 million and adjusted profit before tax rose 87.9% to £21.8 million.

Full-year dividend fell 37% to 23.1p.

Nichols chairman John Nichols: “The continued strengthening of the Vimto brand, both in the UK and internationally, combined with the benefits of our diversified business model, has ensured another resilient financial performance in the period.

“We have achieved significant outperformance of the Vimto brand in dilutes in the UK, and we delivered solid growth internationally, particularly in Africa where we continue to grow, and critically delivered a robust performance in the Middle East …

“The group enters 2022 with excellent momentum and in a strong financial position.

“The group’s adjusted PBT expectations for the year FY22 are unchanged, whilst we remain mindful of the well-publicised inflationary pressures which are now being realised.

In the medium term for 2023 we expect continued revenue growth as well as inflationary and legislation cost pressure.

“We expect to see high single digit growth in Group Adjusted PBT versus FY22.

The board believes the group is well positioned to deliver against its long-term growth plans.”