Last checked at 10 Jan 2014 07:00
Date: | Embargoed until 0700 Friday 10th January 2014
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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 | ||
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Alex Brennan / Nick Lyon | Richard Lindley | |
Hudson Sandler | N+1 Singer (Nominated Adviser) | |
Telephone: 020 7796 4133 | Telephone: 0113 388 4855/ 0207 496 3000 | |
Email: nichols@hspr.com | Website: www.n1singer.com | |
Nichols plc
Pre-Close Trading Statement
Nichols plc ("the Group") today issues the following pre-close trading update for the year ended 31 December 2013.
I am pleased to report that the Group has continued its strong performance into the second half of 2013.
Group sales in the second half of 2013 grew by 4% compared to the prior year and will total c£109.9m for the full year, 2% ahead of 2012.
Our UK sales gained momentum in the second half of 2013, increasing by 5% year on year taking the full year total to c£86.8m, 2% ahead of the prior year. Also during 2013 we have successfully delivered our strategy to improve profitability with both revenue per case and margin showing good improvement compared to 2012.
We have successfully grown our market share of the Still category resulting in Vimto dilute sales increasing by 11% in the year and have continued with our planned reduction in promotional activity in the heavily discounted Carbonate category, where Vimto carbonate sales are down by 6%.
Within our International business, continued growth in the African markets and a stronger second half year in the Middle East have delivered full year sales of c£23.1m which is 2% ahead of the prior year.
Our balance sheet remains strong and 2013 trading has continued to generate positive cash flow in line with our expectations.
We are well positioned to maintain our performance into 2014 and continue to invest in our brands, including a new creative media campaign for Vimto which will commence in the spring.
In summary, during 2013 we have successfully increased profitability, delivered good sales growth in the second half of the year and we expect the full year profit and earnings per share to be ahead of the prior year and in line with expectations.
The Group's Preliminary results will be announced on 13 March 2014.
John Nichols
Non-Executive Chairman
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, Panda & Weight Watchers which are sold in the UK. The Group has a leading market position in both the "Still" and "Carbonate" drinks categories.