Nichols PLC 2018 Trading Update (5583M)

TIDMNICL

RNS Number : 5583M

Nichols PLC

09 January 2019

 
 Date:       Embargoed until 0700 Wednesday 9 January 2019 
 
 Contacts:   Marnie Millard, Group Chief Executive Officer 
              Tim Croston, Group Chief Financial Officer 
              Andrew Milne, Group Commercial Director 
             Nichols plc 
             Telephone: [phone] 
             Website:www.nicholsplc.co.uk 
 
             Alex Brennan / Hattie              Richard Lindley / Rachel Hayes 
              O'Reilly 
             Hudson Sandler                     N+1 Singer (Nominated Adviser) 
             Telephone:[phone]            Telephone: [phone] 
             Email: [e-mail]   Website: www.n1singer.com 
 

Nichols plc

2018 Trading Update

Nichols plc ("the Group"), today issues the following trading update for the year ended 31 December 2018.

We are pleased to report that full year Group sales totalled GBP142.0m, an increase of 6.9% compared to the prior year.

This increase was driven by an excellent performance in our UK business where sales grew by 12.6% to GBP114.6m.

During the year, we celebrated the Vimto brand's 110(th) year and we are delighted to report that once again, the brand has significantly outperformed the UK soft drinks category and gained market share. Vimto sales increased by 12.9% during the year compared to the total UK soft drinks market growth of 7.4% (Nielsen MAT year to 1 December 2018).

Elsewhere in the UK, sales in the Out of Home channel increased by 15.1% compared to the prior year. This strong performance was driven by sales of both our dispensed soft drinks and frozen beverage products which reflects the significant investment in this part of our business over recent years.

In the international business, a strong sales performance in Africa during the second half of the year delivered full year growth of 6.5% in this region.

As anticipated in our 2017 Preliminary Results Statement (1 March 2018), sales to the Middle East were down on the prior year, due to the ongoing conflict in Yemen and the timing of shipments to Saudi Arabia. As a result, sales to the Middle East region totalled GBP9.6m (2017: GBP13.0m).

The Group's total international sales were GBP27.4m (2017: GBP31.0m).

In summary, the Board is very pleased with the 2018 Group sales performance and expects full year profit to be ahead of the prior year and at least in line with current market expectations*.

The Group's Preliminary results will be announced on 27 February 2019.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

* Company compiled market consensus of GBP31.3m profit before tax.

Notes to Editors:

Nichols plc is an international soft drinks business with sales in over 85 countries, selling products in both the Still and Carbonate categories. The Group is home to the iconic Vimto brand which is popular in the UK and around the world, particularly in the Middle East and Africa. Other brands in its portfolio include Feel Good, Starslush, ICEE, Levi Roots and Sunkist.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

TSTBPMPTMBBMBBL

(END) Dow Jones Newswires

January 09, 2019 02:00 ET (07:00 GMT)