The makers of popular fruit-flavoured cordial Vimto have announced strong financial results for the first half of this year - also revealing a number of changes among its most senior board members.
Nichols plc announced on Wednesday that revenue, profit before tax and earnings per share have all increased in the first half of 2019, with the group, based in Newton-le-Willows, Merseyside, announcing it had increased the interim dividend by 9.7%.
John Nichols, non-executive chairman, said: "Nichols plc has delivered another good trading performance in the first half of 2019, with growth across both the 海角视频 and international markets.
"As a result, revenue, profit before tax and earnings per share have all increased during the period, and we have increased the interim dividend by 9.7%.”
As well as the firm's positive financial news, it also took the opportunity to reveal a number of changes to its hierarchy.
In a statement, the group said it was "delighted" to announce Andrew Milne, who has served on the board since January 2016 as Group Commercial Director, has been promoted to the role of Group Chief Operating Officer with immediate effect.
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After 14 years with the group and 10 years as Group Chief Financial Officer, Tim Croston will step down from the board by June next year.
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The notice that Tim has given the board means "sufficient time" to ensure a smooth transition to his successor. The recruitment process will begin "immediately".
Mr Nichols said: "On behalf of the board I would like to thank Tim for his significant contribution to the group during the last 14 years and wish Andrew every success in his new role."
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The group, which invented Vimto at the start of the 20th Century and has other brands to its name including Panda Pops, announced total revenue in the period increased by 10.2% to £71.6m against the prior year, when it was £65m.
Sales were strong in the international markets, albeit against "softer" prior year comparatives.
As well as that, international revenues totalled £14.5m in the period - a rise from £11.2m last year, with sales to the Middle East "in line with expectations" at £4.6m.
Elsewhere, sales to Africa grew by 12.6% to £7.6m, driven by "strong execution in our core markets".
In the 海角视频, revenue increased by 6.2% to £57.1m compared to £53.8m last year, as sales of Vimto grew by 4%, against "very strong" prior year comparatives.
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The group added in the statement it is to recommend an interim dividend of 12.4 pence per share, up from 2018's 11.3 pence.
The statement added: "The board intends to deliver continued returns to shareholders through a progressive dividend policy, with increases aligned to growth in earnings per share with the alignment being fully implemented by 2021."