Firm behind Vimto, Feel Good, and Levi Roots reported solid revenue & profit growth
Companies: Nichols plc
International soft drinks maker Nichols plc has raised its dividend by 15% after reporting solid preliminary results for the year ending 31 December.
Nichols, the Group behind Vimto, Feel Good, and Levi Roots, recorded group revenues up 7.4% at £117m, operating profit up 9% at £30m, and earnings up 9.7% to 66.18p/share. As a result, the business has raised its dividend to 20.3p/share, a 15.3% increase.
Shares in the company opened flat on Thursday, with the firm currently trading on a P/E of 26. This is considerably higher than the 16.83x P/E that AG Barr is currently trading on.
Non-Executive Chairman John Nichols (pictured) said it had been a "very good year" for Nichols, with the Group delivering against its growth strategy, but warned the soft drinks market remained challenging:
"The Group has a clear strategy for growth and whilst the soft drinks market is likely to remain challenging in 2017, the Board remains confident of delivering continued success underpinned by our strong brands, diversification and successful track record of profitable growth."
