Nichols PLC Trading Update (4139R)
November 05 2021 - 2:00AM
UK Regulatory
TIDMNICL
RNS Number : 4139R
Nichols PLC
05 November 2021
Nichols plc
(the "Company" or "Group')
Trading Update
Full year 2021 profits expected to be ahead of current market
expectations
Nichols plc, the diversified soft drinks Group, provides the
following trading update for the first nine months of the year to
30 September 2021 ("the period").
Group revenue for the period was ahead of the Board's
expectations, increasing by 17% year on year to GBP107m.
The Vimto brand has continued to deliver a strong performance
across all of its markets. In the UK, Vimto brand value has
increased by 4.5% YTD, according to Nielsen(1) . In Africa, the
Middle East, Europe and the US the brand continued to see progress
year on year, with International revenues increasing 36% versus the
prior year. The Group's Out of Home ("OoH") route to market
continues to recover from the impact of the pandemic and has seen
growth of 29% year on year.
Cash generation has continued to be very positive through 2021
and despite the ongoing financial challenges posed by the pandemic,
cash and cash equivalents at the end of the period were GBP55.6m
(30 September 2020: GBP45.4m).
Outlook
Although uncertainty remains regarding Q4 trading as a result of
increasing Covid-19 infection rates in the UK, in light of the
strong trading in the year to date the Board now believes that
Adjusted Profit Before Tax ("Adjusted PBT")(2) for FY21 will be
ahead of the current market consensus(3) . The Board now
anticipates that Adjusted PBT for FY21 will be in the range of
GBP21m - GBP22m.
Whilst the Group's revenue momentum is expected to continue into
2022, the outlook for the next financial year is adversely impacted
by inflationary pressures including logistics, labour and
materials, therefore profit expectations for 2022(4) remain
unchanged. The Group intends to provide its next trading update on
12 January 2022.
1 Nielsen Total Coverage Year to Date 9.10.2021
2 Excluding Exceptional items
3 Current market expectations refer to a Group compiled
consensus for FY21 of adjusted PBT GBP19.1m (FY20 Actual
GBP11.6m)
4 Current market expectations refer to a Group compiled
consensus for FY22 of adjusted PBT GBP25.2m
Contacts
Andrew Milne, Group Chief Executive Officer
David Rattigan, Group Chief Financial Officer
Nichols plc
Telephone: 0192 522 2222
Website: www.nicholsplc.co.uk
Alex Brennan / Hattie Dreyfus Steve Pearce / Rachel Hayes
/ Elfie Kent
Hudson Sandler Singer Capital Markets (Nominated
Adviser & Broker)
Telephone: 0207 796 4133 Telephone: 0207 496 3000
Email: nichols@hudsonsandler.com Website: www.singercm.com
Notes to Editors:
Nichols plc is an international diversified soft drinks business
with sales in over 73 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 SLUSH PUPPiE, Feel Good, Starslush, ICEE, Levi Roots and
Sunkist.
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END
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