Revenue up but operating profits down at Nichols

Nichols PLC, the soft drinks manufacturer whose brands include Vimto, have revealed a year of positive growth despite challenging market conditions.

The group saw group revenue rise 13.2% to £132.8m in 2017, with UK sales hitting the £100 million mark.

Interestingly, sales of Vimto saw a 9% sales increase. However, while revenue was up, overall operating profits were down 5.3% to £28.7.

John Nichols, Non-Executive Chairman, said: “In 2017 we delivered strong double-digit sales growth across both the UK and international businesses, even though the market conditions have been challenging. Profits were maintained despite previously announced external challenges in the Yemen region and we are proposing to increase the final dividend by 15.3%.

He continued “The group expects to deliver further progress in 2018, supported by the advantages of our diversified business model and the strength of our brands.”