Nichols has enjoyed a stronger than anticipated Q3, prompting the management to issue a positive 9m trading update. This signals a full year outcome “ahead of current market expectations.” Good momentum has been seen across the UK and Internationally. Looking ahead to 2022 the challenge will be managing inflationary pressures but history shows Nichols has a good track record on this front. We upgrade our FY21 PBT by 17%. For FY22 we upgrade by 7% to bring us into line with consensus. With the co ....
