Nichols, the British soft-drinks group known for brands like Vimto, Levi Roots, and Sunkist, has expressed confidence in meeting its targets for the year as its first-half revenue saw a significant rise. The company reported a 6.6% increase in revenue to £85.5 million ($110.3 million) for the January-June period, with the packaged-drinks division leading the way with a 10% increase.
The strong growth in revenue was primarily driven by markets outside of the U.K., where international packaged revenue rose by an impressive 25%. This growth was particularly notable in African markets and other regions around the world.
Adjusted pretax profit also saw a healthy increase of 9.1% to £12.3 million, resulting in a margin increase of 400 basis points to 14.4%.
As a testament to its success, Nichols has announced an interim dividend for 2023 of 12.6 pence per share, set to be paid on September 8th.
Chief Executive Andrew Milne expressed satisfaction with the company’s performance, emphasizing the strength of the Vimto brand.
Looking ahead, Nichols expects to meet forecasts for adjusted pretax profit for the year, estimated at around £25.2 million. This would surpass last year’s adjusted pretax profit of £24.9 million.