Soft drinks group Nichols plc has reported 19.1% growth in group revenue to £80.2 million (€95.7 million) in the first half of its financial year.
The Vimto maker posted 10.6% growth EBITDA to £12.4 million (€14.8 million).
The company's adjusted operating profit, excluding exceptional items of £1.2 million (€1.4 million), increased by 24.2% to £11.2 million (€13.3 million).
'Recovery In The Second Quarter'
John Nichols, non-executive chairman, commented, "In the UK, the Vimto brand continues to outperform the broader squash market, and the group's out-of-home route to market experienced good growth as the wider leisure sector continues to recover from the impact of the pandemic.
"After some disruption to shipments affecting our international business in the first quarter, I am pleased to report a recovery in the second quarter, which has so far continued into the second half of the year."
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The company's revenue in the UK increased by 29.3% to £62.6 million (€74.7 million), driven by post-pandemic recovery in the out-of-home segment.
In the international market, Nichols witnessed a 7.2% decline in revenue to £17.6 million (€21 million).
Outlook Remains 'Unchanged'
The company added that its outlook on adjusted profit before tax remains unchanged, although it is not immune to inflationary pressures impacting consumers and the soft drinks market.
Nichols stated, "The board remains mindful of the potential earnings impact of continued inflation into FY23 and beyond. We have a long-term track record of growth, a proven, diversified strategy, and a quality range of brands. All of this is underpinned by a strong balance sheet.
"As a result, the board remains confident that the group is well positioned to deliver its long-term growth plans."
© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
