Last checked at 29 Apr 2015 07:00
Date: | Immediate release, Wednesday 29th April 2015
| |
Contacts: | John Nichols, Non-Executive Chairman | |
Marnie Millard, Group Chief Executive Tim Croston, Group Finance Director | ||
Nichols plc | ||
Telephone: 01925 222222 | ||
Website:www.nicholsplc.co.uk | ||
Nick Lyon / Alex Brennan | Richard Lindley | |
Hudson Sandler (Financial PR) | N+1 Singer (Nominated Adviser) | |
Telephone:020 7796 4133 | Telephone: 0207 496 3000 | |
Email: nichols@hspr.com | Website: www.n1singer.com | |
Nichols plc
AGM trading update and acquisition
John Nichols, Non-Executive Chairman of Nichols plc, the soft drinks group, will make the following statement at the Group's Annual General Meeting to be held at 11.00 am today:
Current Trading
Group trading for the first quarter of 2015 is ahead of the prior year. Whilst the Board are happy with the first quarter performance, we anticipate that both the UK grocery and soft drinks markets will remain challenging for the remainder of the year. At this time we are expecting to deliver full year results in line with expectations.
During the year we plan to continue delivering our growth strategy with a focus on value over volume. We have already commenced a Vimto sales drive in the Midlands which will continue throughout the summer, this includes increased regional advertising and promotional activity aimed at enhancing distribution in this important region. In our Out of Home business, we will be focused on implementing the new Coca Cola dispense deal as announced earlier in the year.
Acquisition
We are delighted to announce that the Group has taken an initial 49% equity stake in The Noisy Drinks Co Ltd.
Noisy Drinks distributes slush drinks under the Starslush brand and had an annual turnover of £6.6m in its last financial year. The company has its own national network in the UK and also distributes to a number of key customers in mainland Europe. Noisy's operating model is closely aligned with our own Out of Home business and our investment provides an opportunity for both commercial and operating synergies.
- ENDS -
Notes to Editors:
Nichols plc is a highly focused soft drinks business. Its brand portfolio includes Vimto, which is sold in over 65 countries and Levi Roots (soft drinks), Sunkist and Panda which are sold in the UK. The Group has a leading market position in both the "Still" and "Carbonate" drinks categories.