FDBusiness.com

Nichols Achieves 13.2% Revenue Growth in 2017

 Breaking News
  • Valeo Foods Acquires Tangerine Confectionery For £100 Million Valeo Foods Group, the acquisitive Irish and international food business, is reported to have purchased Tangerine Confectionery of the UK for £100 million (€112 million) from Blackstone Group. The deal adds popular UK confectionery brands such as Dip Dab, Fruit Salad and Blackjack to Valeo Foods Group’s growing portfolio, and will increase annual turnover to [...]...
  • Constellation Brands to Invest $4 Billion to Develop Canabis Market Constellation Brands, the North American and international alcoholic drinks group, is investing US$4 billion (C$5 billion) to increase its stake in Canopy Growth Corporation, a leading diversified cannabis company, to 38%. The significantly expanded strategic partnership will position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing. As a result of [...]...
  • Brewing Up Authenticity, Vibrancy, and Sol With the hot summer months in full swing, beer lovers are reaching for their favorite cold brews to beat the heat. But as consumers venture down their grocer’s beer aisle, they are met with an onslaught of brands vying for attention in a sea of packaging. When MillerCoors recently relaunched the Mexican import brand Sol, they [...]...
  • Carlsberg Group Delivers Strong First Half Carlsberg Group has increased operating profit organically by 14.2% in the first half of 2018 with all three of its regions – Western Europe, Asia and Eastern Europe – delivering very solid performances. Organic net revenue growth was 5.1%. Reported operating profit rose by 6.0% to DKr4.373 billion (€586.5 million), impacted by negative currency factors [...]...
  • Levi Roots Caribbean Snack Pots Launched by Aimia Foods Aimia Foods is introducing to the market ‘Levi Roots Caribbean Snack Pots’, a range of On the Go Instant Snack Pots, that consumers simply add hot water to and stir for ease of preparation. Using natural, clean ingredients, the products have an authentic, home cooked taste and incorporate the Levi Roots Caribbean vibe, flavours and recipes. Michelle [...]...

Nichols Achieves 13.2% Revenue Growth in 2017

Nichols Achieves 13.2% Revenue Growth in 2017
March 05
09:34 2018

Nichols, the UK-based soft drinks group, revenue for 2017 has increased by 13.2% to £132.8m (12.2% on a constant exchange rate basis) for the year ended 31 December 2017. This growth was delivered across the group in both its UK and international businesses highlighting the advantages of a diversified business model. However, group profit before tax and exceptional items of £30.5 million was broadly in line with the prior year figure of £30.4 million.

Nichols has sales in over 85 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 Feel Good, Starslush, ICEE, Levi Roots and Sunkist.

John Nichols, non-executive chairman of Nichols.

UK sales totalled £100.8 million in 2017 – an increase of 11.0%, which is a strong performance given ongoing challenges in the UK market. Once again, the Vimto brand has significantly outperformed the market with sales in 2017 up by 9.0% compared to the overall UK soft drinks market which was up by 2.2% in the same period (Nielsen year to 30 December 2017). Elsewhere in the UK, Nichols’ Out of Home business increased its sales by 21.5% compared to the prior year. This was delivered from both its dispensed soft drinks and frozen beverages product ranges and demonstrates the benefits of recent acquisitions in this part of the business.

Sales to international customers grew by 20.4% to £32.0 million. Revenues to Africa were £12.7 million, an increase of 21.2% compared to 2016.

Whilst the Group remains highly profitable with group profit before tax and exceptional items delivering a 23% return on sales, against 26% in 2016, the margin has been impacted by increased input costs affecting the wider industry. In addition to the margin dilution, the escalation in hostilities in Yemen prevented the planned shipments of Vimto concentrate in December.

John Nichols, non-executive chairman of Nichols, comments: “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%. The group expects to deliver further progress in 2018, supported by the advantages of our diversified business model and the strength of our brands.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 12, 2018Packaging Innovations & Luxury Packaging London 2018
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements