Trading on track at Nichols, shares spark

6th Nov 2024 09:42

(Sharecast News) - Nichols said it remained on track to meet full-year guidance on Wednesday, as the Vimto-owner reiterated its longer-term growth plans.

The soft drinks group, which also owns Slush Puppie and Sunkist, used its capital markets day to confirm that 2024 full-year trading remained in line with management expectations.

Analysts currently expect annual adjusted pre-tax profits of £30.2m on revenues of £172.6m.

In the previous year to 31 December 2023, revenues rose nearly 4% to £170.7m, while adjusted pre-tax profits jumped 9% to £27.2m.

Nichols also used the CMD to reiterate its medium-term targets, which included total revenues reaching at least £225m and pre-tax profits of at least £45m.

It also wants to boost the margin - currently expected to be 17.5% by the end of the current year - to 20%.

Andrew Milne, chief executive, said: "The delivering of our medium-term financial ambition for creating shareholder value will be underpinned by our proven approach to innovation, focus on growing distribution in existing markets, expanding into new geographies and investing in our brands.

"We are very excited and confident in the growth opportunities that lie ahead."

As at 1015 GMT, shares in the AIM-listed business had put on 4% at 1,189p.