Last checked at 8 Jan 2015 07:00
Date: | Embargoed until 7.00 Thursday 8th January 2015
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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 | Richard Lindley | |
Hudson Sandler | N+1 Singer (Nominated Adviser) | |
Telephone:020 7796 4133 | Telephone: 0207 496 3000 | |
Email: nichols@hspr.com | Website: www.n1singer.com | |
Nichols plc
Trading Update
Nichols plc ("the Group"), today issues the following trading update for the year ended 31 December 2014.
We are pleased to report that the Group's trading performance has continued the positive trend into the second half of 2014. UK sales grew ahead of the market and international sales have delivered double digit growth in the second six months of the year compared to the same period in 2013.
Overall, we expect Group sales for the full year ended 31 December 2014 to total £113.6m, an increase of 3.4% on the prior year and 4.0% ahead on a like for like exchange rate basis.
Trading conditions in the UK grocery sector continue to be challenging and this has contributed to the UK soft drinks market showing a modest 0.4% increase in sales value over the last 12 months (Nielsen MAT to 6 December 2014). Despite this backdrop, the Vimto brand performed well showing an increase in sales of 4.5% during the year. This strong performance has been supported by our new Vimtoad advertising campaign and the rebranded packaging launched in the spring.
Our total international revenues for the year were 4.3% ahead of 2013 and 7.3% ahead on a like for like exchange rate basis.
As we anticipated in our Interim results announcement, sales to the Middle East in the second six months of 2014 were significantly ahead of the prior year. As a result, full year sales to the Middle East were 12.3% ahead of 2013.
In summary, 2014 has been another successful year for the Group. Our key Vimto brand has outperformed the UK soft drinks market and we have delivered good growth in our international business. We expect the full year profit and earnings per share to be ahead of the prior year and at least in line with management expectations.
The Group's Preliminary results will be announced on 5 March 2015.
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 which are sold in the UK. The Group operates in both the "Still" and "Carbonate" drinks categories.