Nichols ( (GB:NICL) ) has issued an announcement.
Nichols PLC reported a strong financial performance for 2024, aligning with its growth strategy and medium-term financial ambitions. The company achieved a 1.2% increase in revenue to £172.8m, driven by a 4.4% rise in packaged sales, particularly in the UK, where revenues grew by 6.3% due to innovation and distribution gains. Despite a strategic exit from unprofitable accounts impacting Out of Home revenue, Nichols improved its gross margin to 45.7% and increased its adjusted operating profit by 14.6% to £28.9m. The company also made significant strategic progress internationally, with successful volume growth in the Middle East and a new concentrate model in West Africa. Nichols remains confident in its ability to continue delivering strong financial performance and strategic progress, supported by its diversified business model and strong brand portfolio.
More about Nichols
Established in 1908, Nichols operates within the resilient soft drinks category and owns or licenses several brands, including the iconic Vimto. The company is geographically and operationally diversified, with operations across UK Packaged, International Packaged, and Out of Home markets. Nichols’ portfolio spans five soft drinks sub-categories: squash, flavoured carbonates, fruit drinks, energy, and flavoured water, and its products are enjoyed in over 60 countries worldwide.
YTD Price Performance: 3.15%
Average Trading Volume: 30,532
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £478.5M
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