Nichols delivers 'another strong performance' in FY24
By Iain Gilbert
Date: Wednesday 15 Jan 2025
(Sharecast News) - Soft drinks business Nichols said on Wednesday that it had delivered "another strong performance in 2024" and that it expects FY revenues and earnings to be in line with current market expectations.
Nichols said trading in H2 had continued the positive momentum from the first half and was in line with its growth strategy and medium-term financial ambitions.
Group revenue increased by 0.8% to £172.1m as Nichols continued to perform well within its packaged business, with full year sales up by 3.8%, driven by particularly strong growth in the UK where sales rose by 5.4% largely due to innovation and distribution gains.
Gross margins continued to improve as inflationary pressures eased during the year and as the overall product mix improved, while cash generation remained strong throughout the year.
Chief executive Andrew Milne said: "I'm pleased to report Nichols delivered a strong performance in FY24, with good progress made against our strategic plan and towards our medium-term financial ambitions.
"Looking ahead, we remain focused on continuing to execute our strategic plans and driving further progress against our medium-term ambitions."
As of 1025 GMT, Nichols shares were down 0.88 % at 1.253.92p.
Reporting by Iain Gilbert at Sharecast.com
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