Nichols plc (GB:NICL) has released an update.
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Nichols plc reported a 5.9% year-on-year decline in Group revenue to £38.8m for the first quarter of 2024, attributed to strong growth in its UK Packaged business but offset by a drop in International revenue and a strategic reduction in Out of Home (OoH) business. Despite the revenue dip, the company’s cash position improved to £73.0m, and the Board expressed confidence in achieving its full-year profitability goals, underpinned by its robust Vimto brand and international business model. The company’s FY24 adjusted PBT expectations remain on target with market consensus.
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