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Nichols first-quarter revenue falls 5.9%
StockMarketWire.com
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Soft drinks group Nichols said its first-quarter revenue had fallen, owing to weakness in the UK out-of-home route to market, but guides for profit in line with market expectations.
Revenue for the three months through March had fallen 5.9% year-on-year to £30.7 million, Nichols said in an update for its annual general meeting.
Strong growth had been achieved by the Vimto brand in the UK, while the group's international business had made a 'solid' start to the year, it added.
Cash equivalents at the end of the period remained 'strong' at £43.1 million, down from £47.3 million at the end of December.
'The board is confident that the group, underpinned by the strength of the Vimto brand and the group's diversified business model, remains well placed to deliver its long-term strategic ambitions,' Nichols said.
'Should the UK Government's planned roadmap out of lockdown continue, and assuming the absence of further lockdowns later in the year, the board expects full-year adjusted pre-tax profit to be broadly in line with current market expectations.'
At 9:38am: (LON:NICL) Nichols PLC share price was 0p at 1200p
Story provided by StockMarketWire.com
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