Nichols profits fizz as sales soar

4th Aug 2010 11:52

Soft drinks group Nichols saw profits climb by 39% in the half year to June 30 as sales stayed strong despite uncertain economic conditions.The Vimto maker posted a pre-tax profit of £6m, up from £4.3m in the same period the previous year, as revenues jumped to £44.2m from £37.5m.'Our very strong trading in the first half was achieved despite tough comparatives, the prevailing economic uncertainties and an extremely competitive soft drinks sector,' said chairman John Nichols.'The momentum we have built up over the past few years has certainly continued and we anticipate profits at the year end will be significantly ahead of last year.'He remains optimistic about the company's prospects despite economic uncertainty.'The soft drinks sector remains extremely competitive, with the retail market and broader economic outlook increasingly uncertain,' he said. 'It is our intention, however, to continue investing in our brands and growing our market position.'