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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Nichols Plc | NICL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 10.00 | 0.78% | 1,285.00 | 16:35:04 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,275.00 | 1,275.00 | 1,300.00 | 1,285.00 | 1,275.00 |
| Industry Sector |
|---|
| BEVERAGES |
| Top Posts |
|---|
Posted at 20/11/2024 00:46 by philanderer Telegraph Questor Tip19th november 'Why shares in Vimto and Slush Puppie maker continue to reward investors after 100 years' A first-ever capital markets day from soft drinks specialist Nichols shows how this well-run business continues to develop, as management implements distinct strategies for all three parts of the company – packaged drinks for the UK market, packaged drinks for overseas markets and the out of home (OOH) segment, which serves the hospitality industry. The roll-out of an SAP-based enterprise resourcing planning software supports a business transformation programme that should deliver ongoing productivity gains, to the benefit of margins, even as the company invests in its brand range, which includes Vimto, Slush Puppie and Levi Roots. Nichols share price performance The plan is to increase share in the UK market, which represents around half of group sales, accelerate growth in the overseas business, which generates a quarter of revenue (primarily from the Middle East and Africa), and work on costs in the OOH operation. The OOH business is already delivering here, as it ceases to supply unprofitable customers, improves procurement and targets cost efficiencies. The key question for investors now is to decide whether Nichols can successfully deploy these strategies and in turn meet its medium-term financial goals. Chief executive Andrew Milne and the board are targeting a 30pc uplift in sales, an extra 250 basis points (2.5 percentage points) in profit margin and a 50pc increase in pre-tax income to £45m. Assuming a 25pc rate of corporation tax and an unchanged share count, this implies an earnings per share figure of more than 90p and thus a forward earnings multiple of barely 14 times. That would look low for a business with an operating margin of 20pc, high returns on capital, a debt-free balance sheet and a record of consistent cash generation. All of those facets underpin dividend payments. The 6.6pc forward yield for this year may be a little deceptive, as it owes much to the autumn’s 54.8p-a-share special payment, although that welcome sum takes the total banked since our initial analysis to 259.4p a share, with the prospect of more to come. Nichols can still reward patient support. Questor says: hold Ticker: NICL:AIM Share price: £12.95 |
Posted at 08/11/2024 00:17 by philanderer Investor Presentation Video |
Posted at 06/11/2024 09:11 by davebowler Singer -CMD to detail growth ambitions; FY24 trading in line Nichols is holding a Capital Markets Day today which will update on execution of the Group’s growth strategy. Ahead of this it has shared its medium-term financial ambitions - £225m revenue; 20% PBT margin (+250bps vs FY24e cons); and PBT of £45.0m (+50% vs FY24e cons). We will publish a more detailed note following the CMD, providing insight into opportunities/levers across the business units to drive faster growth, EPS scenario analysis and capital allocation options. The update comments that FY24 trading remains in line with management expectations. Whilst we make no forecast changes, we see the risk on the upside. Overall, we believe Nichols’ asset light, high margin and hugely cash generative model remains under appreciated on a cal’25 EV/EBITDA of 11x - Buy. Event Capital markets day today. The company is hosting a Capital Markets event this afternoon for investors and analysts to provide an update on the Group’s strategy and financial ambitions. We expect the event to focus on 4 key areas: 1. Mid-term financial targets and the capital allocation framework 2. Growth leavers / headroom in UK Packaged and OoH 3. Significant International Packaged opportunities 4. Internal transformation programme to support margin accretion Impact on earnings & valuation Our current year forecasts are prudent. To accompany news of the CMD event the company has reassured on FY24 trading, signalling it remains in line with management expectations with no change to previous guidance. Accordingly, we make no forecast changes but see the risk on the upside. By way of reminder in H1 Nichols delivered 18% growth in adj. PBT to £14.5m. This implies it needs to grow H2 adj. PBT by an undemanding 3% to £15.4m to hit our FY adj. PBT estimate of £29.9m. Valuation does not reflect the pace of travel. The shares had a good bounce around the interims in July, rising by 25% towards 1265p on the back of 4% EPS upgrades and a £20m special dividend. They have since given up some of these gains on wider IHT/Aim related concerns. The shares are currently trading on a FY24 EV/EBITDA of 12x falling to 11x. This is at a discount to the 10-year average of 14x, despite a much-improved growth outlook post the strategic reset and upward margin momentum. Our 12m TP of 1440p is based on an undemanding cal’25 EV/EBITDA of 13x. Given the long runway for growth, a progressive DPS and the real possibility of further ‘special’ |
Posted at 24/10/2024 15:56 by disneydonald Traded out my short term bet, reasonable profit for a few weeks exposure. However, I am now regretting not holding a little longer as NICL trading update now scheduled on Investor Meet for Nov 7th. I suspect they have something positive to update the market on, and hopefully no misstep from Reeves regarding Business Relief should provide a fair wind for some share price recovery. |
Posted at 17/9/2024 11:46 by disneydonald Well, NICL is a difficult stock to get into, or get out of. Wide spreads, and limited stock available means it can take a while for investors to build a stake, or off load a stake. If someone is reducing a stake this could depress the share price for weeks, or months, especially if no business updates or news expected from NICL.Just have to swallow it with NICL, even though they are very profitable and generate good free cash flow it doesn't mean that the share price will be rerated any time soon. However, all things being equal, IMHO NICL are worth holding / increasing (at around £10 / £11). Management now seem more inclined to return to previous years dividend payout strategy, and not hang on to too much cash pending potential acquisitions. I think that you have to take a long term view of NICL. Currently, the spread is as good as it get's. 1065 / 1075. |
Posted at 06/6/2024 08:44 by markatkinson Having been on my watchlist for many years I have finally opened a position in Nichols (NICL ) and my very dear friend Paul Kerin and I cover this in the forthcoming episode of the ‘Desert Island Investor’You can subscribe here for notification - |
Posted at 16/5/2024 22:48 by disneydonald I noted that Irn Bru, and Robinson's both announced good trading updates recently. Also, spotted the new Vimto energy drink in local supermarket, and notwithstanding it is a new product, it looked like it was selling well compared to competitor productsMaybe "investors" believe the heavy lifting has now been done re restructuring, and people, allied to soft drinks sector going well and potential for special distribution of excess cash to shareholders. See how they go over next few weeks |
Posted at 02/2/2024 14:47 by philanderer Must admit, I've started pulling out of the UK."Small investors pull money out of UK stock market at record pace" Small investors are yanking money out of the UK stock market at a record pace, industry figures are poised to reveal. Trade body the Investment Association is finalising its figures for 2023, which seem sure to be the worst ever for outflows from UK funds. Around £25 billion has been taken out of the UK stock market in the last two years alone, which partly explains why London shares have much more lowly valuations than rivals in the US and elsewhere. This comes as the London stock market struggles to attract floats of big companies, which are heading to New York instead. |
Posted at 01/3/2023 14:21 by philanderer Website says there's an investor presentation on friday. |
Posted at 12/7/2021 10:21 by philanderer Nichols plc is pleased to announce that Andrew Milne, Chief Executive Officer, and David Rattigan, Chief Financial Officer, will provide a live presentation relating to the Interim results for the six months ended 30 June 2021 via the Investor Meet Company platform on 21st Jul 2021 at 5:00pm BST.The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet Nichols plc via: |
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