Nichols predicts strong improvement as sales fizz

4th Aug 2011 11:28

Shares in Nichols were fizzing after the maker Vimto and other soft drinks predicted full year profits would be "significantly ahead" of the previous year after a strong first half.Pre-tax profits in the six months to 30 June rose to £7.2m from £6m on revenues that climbed to £50.5m from £44.2m."We have again grown our UK market share and our international business continues to thrive," said chairman John Nichols. "We expect full year profits will be significantly ahead of last year."The company said that economic uncertainty and cost inflation is likely to continue for the remainder of the year and into 2012."We are confident, however, of maintaining our growth momentum by continuing to invest in our existing brands, developing new products and expanding our International business, whilst keeping a strong control over costs," the company said.At 11.40am, shares in Nichols were up by 7% at 36.5p.---RG