Nichols PLC 2019 Trading Update (2166Z)

TIDMNICL

RNS Number : 2166Z

Nichols PLC

09 January 2020

 
 Date:       Embargoed until 0700 Thursday 9 January 2020 
 Contacts:   Marnie Millard, Group Chief Executive Officer 
              Tim Croston, Group Chief Financial Officer 
              Andrew Milne, Group Chief Operating Officer 
             Nichols plc 
             Telephone: [phone] 
             Website: www.nicholsplc.co.uk 
 
             Alex Brennan/ Hattie                Richard Lindley/ Rachel Hayes 
              Dreyfus 
             Hudson Sandler                      N+1 Singer (Nominated Adviser 
                                                  and Broker) 
             Telephone: [phone]                 Telephone: [phone] 
              4133                                Website: www.n1singer.com 
              Email: [e-mail] 
 
 
 

Nichols plc

(the "Company" or "Group")

Trading update

Nichols plc, today issues the following trading update for the year ended 31 December 2019.

We are pleased to report that the Group's revenue increased by 3.6% to GBP147.2m for the year. This performance was delivered across the Group with all three areas of the business showing growth, which once again reflects the benefits of our strong diversified operating model.

UK sales totalled GBP117.7m, 2.7% ahead of the prior year. Within the UK, Vimto brand sales grew by 0.8% against a very strong prior year comparative (12.9%) and in line with the overall soft drinks market (+0.7% Nielsen YTD 30 Nov 2019). Elsewhere in the UK, Out of Home sales were GBP45.7m, an increase of 8.4% compared to the prior year. This performance was driven by the acquisition of Adrian Mecklenburgh Limited (acquired February 2019) and new sales of the ICEE brand (frozen beverage) in the second half of the year.

Revenue in our international markets grew by 7.5% to GBP29.5m. Sales to the Middle East were GBP11.6m, an increase of 20.6% in comparison to softer prior year comparatives.

In summary, the Board is very pleased with the Group sales performance and we currently anticipate full year Profit Before Tax to be in line with market expectations.

The outlook for 2020 remains in line with the Trading Update reported 23 December 2019.

John Nichols, Chairman of Nichols plc commented:

"We are pleased with the sales performance in 2019 reflecting growth across all three areas of our business. The Vimto brand has again performed very well in the UK, despite strong prior year comparatives.

"Underpinned by the Group's diversified business model, strong brands and successful track record, the Board remains confident of Nichols Plc's long-term progress."

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

TSTBPMLTMTTMBTM

(END) Dow Jones Newswires

January 09, 2020 02:00 ET (07:00 GMT)