Merseyside-based Vimto and soft drinks firm Nichols plc said its 2024 adjusted profit before tax rose 15.6% to £31.4 million as its revenue edged 1.2% higher to £172.8 million.

Dividend payments by Nichols rose to £31.2 million from £10.2 million in the prior year, including a 54.8p special dividend that amounted to £20 million. Total normal dividend rose 13.4% to 32p.

Nichols CEO Andrew Milne said: “Nichols delivered another strong performance in 2024, delivering double digit PBT growth and improved gross margin as we continued to successfully execute our growth strategy across each of our routes to market.

“In the UK, Vimto reached its highest ever retail sales value, demonstrating the enduring appeal of our iconic brand, driven by expanded distribution, new product innovation and our biggest ever marketing campaign, ‘Love the Taste’.

“A strong performance in our International business was driven by volume growth in the Middle East during our 101st Ramadan in the region, as well as significant strategic progress across Africa as we transitioned to a margin-enhancing concentrate model in several markets.

“At our Capital Markets Day in November, we outlined our medium-term financial ambitions and a clear roadmap for growth. We operate in a resilient and growing category and are well positioned to capitalise on the significant opportunities across both our UK and international markets, leveraging the strength of the Vimto brand.

“Underpinned by our diversified business model, strong brand portfolio, and solid financial position, I remain confident in our ability to drive high-margin, cash-generative growth and deliver long-term value for our shareholders.”