FDBusiness.com

Robust First Half Performance by Nichols

 Breaking News
  • Greencore to Divest US Business in $1 Billion Deal Greencore Group, the Irish and UK convenience food business, has agreed to sell its entire US business to an affiliate of Hearthside Food Solutions for US$1.075 billion (£817 million) on a cash and debt-free basis. Hearthside is a major US contract food manufacturer with a heritage in US food industry outsourcing. The disposal will leave [...]...
  • The Macallan’s Pioneering New Distillery Installs Flowcrete UK Flooring The new distillery for luxury whisky brand The Macallan has installed a variety of Flowcrete UK floors to create surfaces that would reflect its visual identity and maintain the functional properties required to produce this iconic Scottish spirit. When Edrington, the international spirits group that owns The Macallan, decided to build a £140 million facility to meet increasing global [...]...
  • New Pearl Range Launched to Help Reduce Risk of Cross Contamination Single use glove specialist Unigloves has launched the brand new 15-glove Pearl Colour System nitrile gloves range, helping organisations across the food sector more effectively manage cross contamination risks. The expanded range, combines high quality food handling approved, AQL 1.5 medical grade, powder-free nitrile gloves available in a range of colour finishes – including those [...]...
  • Signed Sealed Delivered With the increased customer focus on postable items such as confectionery, drinks and gifts, UK plastic bottle manufacturers Measom Freer have developed their very own Post Bottle (Ref 6143). With a flat rectangular shape, the bottle can easily be boxed and posted through standard letterboxes, fitting the UK large letter dimensions. Made from clear PVC, which [...]...
  • Irish Distillers to Invest €150 Million in Sites in Cork and Dublin Irish Distillers has announced investment of over €150 million in its sites in Cork and Dublin to meet demand for its products as the Irish whiskey renaissance continues apace. This is accelerated by the continued growth of the company’s flagship Jameson brand, which is now in double or triple-digit growth in more than 80 markets [...]...

Robust First Half Performance by Nichols

Robust First Half Performance by Nichols
July 29
12:36 2014

UK beverages group Nichols has achieved strong growth of 11% in pre-exceptional profit to £10.0 million in the first half of 2014 on sales up 3% to £56.6 million as it outperformed the UK soft drinks market which grew at 2.7%. Operating profit advanced 12% to £9.9 million and operating margins improved from 16% to 18%.

Sales growth in the UK was largely driven by the carbonate category which was 11% ahead compared to the first six months of 2013. Importantly, the incremental sales were achieved whilst maintaining the margin. Nichols’ sales into the still category grew by 3% compared to the prior year.

International sales revenue was £12.8 million at the half year, 12% behind the prior year which is in line with management expectations. Nichols expects international sales in the second half of 2014 to show improved performance.

During the period, stronger Sterling rates against both the US Dollar and the Euro have negatively impacted our international sales, accounting for 3ppts of the 12% year on year decline.

“We expect our UK performance for the remainder of 2014 to maintain the positive trend seen in the first half of the year,” says John Nichols, non-executive chairman of Nichols. “We anticipate international revenues in the second half of 2014 to be ahead of the prior year.” The full year performance is expected to in line with current expectations.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 18, 2018Future Food-Tech London - Marketing Partnership
  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements