Last checked at 6 Jan 2011 07:00
Date: | Embargoed until 07.00am, Thursday 6 January 2011
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Contacts: | John Nichols, Non-Executive Chairman | |
Brendan Hynes, Group Chief Executive Tim Croston, Group Finance Director | ||
Nichols plc | ||
Telephone: 01925 222222 | ||
Website:www.nicholsplc.co.uk | ||
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Alistair Mackinnon-Musson | Mark Brady | |
Nathan Field | Brewin Dolphin Ltd | |
Hudson Sandler | (Nominated Adviser) | |
Telephone:020 7796 4133 | Telephone: 0845 213 4729 | |
Email: nichols@hspr.com | Website: www.corporatefinance.brewin.co.uk | |
Nichols plc
Pre-Close Trading Statement and Board Changes
"Group profit significantly ahead of last year and ahead of current market expectations"
Nichols plc, the soft drinks group, announces its Pre-Close Trading Statement and the appointment of Mr Eric Healey as a Non-Executive Director.
Pre-Close Trading Statement:
I am pleased to report the excellent trading performance seen in the first half year has continued into the second half of 2010. This has been achieved against very strong comparatives in 2009.
Full year 2010 revenues are once again well ahead of our internal plans, with operating margins that will be in line with plan. The Group's balance sheet has been strengthened and underlying cash generation will also be ahead of expectations.
In overall terms we expect the Group's profitability for the year to 31 December 2010 to be significantly ahead of last year and ahead of current market expectations.
Board Changes:
Mr Eric Healey (aged 62) has been appointed to the Board as a Non-Executive Director and he will chair the Audit Committee.
Eric was previously a Senior Audit and Independent Review partner at Grant Thornton LLP, and chair of its Audit Committee. He will be replacing our current Non-Executive Director, John Bee, who has served since 2002 and has stepped down to enable the Board to be refreshed in line with 'Best Practice'.
Commenting John Nichols, Non-Executive Chairman, said:
"On behalf of everyone at Nichols, I would like to place on record our sincere thanks to John Bee, who has been an excellent member of the Board and we all wish him and his family well in his retirement".
"I would also like to take this opportunity of welcoming Eric Healey to the Board and we look forward to working with him in his new role".
Notes:
Eric James George Healey is currently a member of the audit committee at the University of Salford and an adviser to a number of private enterprises.
CURRENT DIRECTORSHIPS
None
PREVIOUS DIRECTORSHIPS/PARTNERSHIPS
Grant Thornton Nominees
GTN1 Limited
Grant Thornton Property Nominees
GTPN2 Limited
GTPN1 Limited
GTN2 Limited
Partner - Grant Thornton LLP
There are no further matters in connection with the appointment of Eric Healey that need to be
disclosed under Schedule Two paragraph (g) of the AIM Rules.
- ENDS -
Notes to Editors:
Nichols plc is a highly focused soft drinks and dispensed cold drinks business, comprising two operations:
1. Soft Drinks (sales and marketing of the Vimto brand throughout the world, where it is now available in over 65 countries and of the Panda & Sunkist brands in the UK) and
2. Dispense Operation (namely the Cabana, Beacon, Cariel, Ben Shaws (dispense) & Dayla soft drinks on draught 'dispense' businesses)