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PRIVACY
Retail & Consumer

Revenue rise for Vimto and Slush Puppie maker as profits reach targets

The group said its 'out of home route to market' continued to recover from the pandemic

The Remix range - one of Vimto's products

Revenue surged by 22% at the maker of Vimto and Slush Puppie during 2021, new figures have confirmed.

Newton-le-Willows-headquartered Nichols plc has reported a revenue of £144.3m for the 12 months, which is "broadly in line" with its level in 2019.

The listed group added that it expects its adjusted pre-tax profits to be between £21m and £22m, also "in line with previous guidance".

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The group said its 'out of home route to market' continued to recover from the impact of the pandemic during 2021 and saw growth of 77% year-on-year.

However, compared to 2019, that segment's revenues "remain significantly down" (31%).

A statement issued to the London Stock Exchange said: "Given the ongoing impact of the coronavirus pandemic on the OoH drinks market, and current profitability within this route to market, the board is currently revisiting the estimates it uses to support the OoH balance sheet carrying value as part of preparing the group's audited annual results.