Nichols PLC AGM Trading Update (3278D)

TIDMNICL

RNS Number : 3278D

Nichols PLC

26 April 2017

 
 Date:       Embargoed until 0700 Wednesday 26 April 
              2017 
 Contacts:   John Nichols, Non-Executive Chairman 
             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              Richard Lindley 
             Hudson Sandler            N+1 Singer (Nominated Adviser) 
             Telephone: 020            Telephone: [phone] 
              7796 4133 
             Email: [e-mail] 
 

Nichols plc

("the Group")

AGM trading update

John Nichols, Non-Executive Chairman of Nichols plc, the soft drinks group, will make the following statement at the Group's Annual General Meeting to be held at 11.00 am today:

Current Trading

The Group's trading performance for the first quarter of 2017 is in line with management expectations.

In the UK, the Vimto brand continues to outperform the market with reported sales up by 3.4% compared to the first quarter of 2016. This compares favourably to the total soft drinks market growth of 1.2% in the same period (Nielsen: ytd to 25 March 2017).

In our international markets, sales to Africa have maintained the growth momentum from 2016 and as anticipated, the first quarter has been a busy period for sales of Vimto concentrate to the Middle East ahead of Ramadan which begins at the end of May.

Board update

The recruitment process for a Non-Executive Director to replace John Longworth, who steps down from the Board today, is well under way and we expect to give a further update at the time of our 2017 interim results announcement on 20 July 2017.

Outlook

We anticipate the UK soft drinks market will remain challenging throughout 2017 with the addition of currency related input cost inflation to an already price competitive environment.

Against that backdrop, we are pleased with the Group's trading performance for the first quarter and currently expect full year earnings to be in line with market expectations.

- ENDS -

Notes to Editors:

Nichols 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, Levi Roots and Sunkist.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 26, 2017 02:00 ET (06:00 GMT)