Last checked at 7 Jan 2013 07:00
Date: | Embargoed until 7.00am, 7 January 2013
| |
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 | ||
|
| |
Alex Brennan | Richard Lindley/Jonny Franklin-Adams | |
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.
The Group has continued its positive trading momentum in the second half of 2012 with total sales for the year ended 31 December 2012 increasing by 9% to £108m.
This performance is ahead of the UK soft drinks market and has been achieved against last year's strong comparatives (18% uplift on 2010), a challenging UK economy and record wet weather.
The UK market, as measured by A.C. Nielsen, increased in value by 3.2% for the year to 8 December 2012 with underlying volume down 0.6%.
Despite this challenging market we are pleased to report that our UK business has increased sales by 10% against the prior year with our export sales also increasing by 8%.
Despite another year of significant cost inflation and high levels of promotional activity, we expect, as a minimum, to maintain our operating margins. This has been achieved by a combination of good cost control and ongoing productivity improvements.
The Group's balance sheet remains strong and has continued to generate positive cash in line with our expectations.
In summary, 2012 has seen a strong trading performance and we expect Group profit and earnings per share (EPS) to be significantly ahead of last year and ahead of market expectations.
The Group's Preliminary results will be announced on 7 March 2013.
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 and also in the soft drinks on dispense market, where its brands include Cabana, Ben Shaws & Dayla.