Nichols quarterly revenues rise 4.2% YOY

26th Apr 2023 07:15

(Sharecast News) - Soft drinks manufacturer Nichols said on Wednesday that revenues had grown in the three months ended 31 March.

Nichols stated group revenues had increased 4.2% year-on-year to £41.2m, reflecting "good progress" in its packaged business, which saw revenues jump 7.7% to £32.0m.

The AIM-listed group said this was principally driven by an "accelerated performance" in its international packaged route to market.

Nichols added that its out-of-home business had seen "a slower start" to 2023 than in the prior year, with revenues down 7.8% at £9.2m, as "continued significant cost of living pressures" were being experienced.

Looking forward, Nichols stated it continues to take actions to mitigate expected significant inflationary pressures, with adjusted pre-tax profit expectations remaining unchanged at £25.3m.

As of 0950 BST, Nichols shares were up 0.43% at 1,094.65p.

Reporting by Iain Gilbert at Sharecast.com