Nichols PLC AGM Trading Update (3278D)
26 April 2017 - 4:01PM
UK Regulatory
TIDMNICL
RNS Number : 3278D
Nichols PLC
26 April 2017
Date: Embargoed until 0700 Wednesday 26 April
2017
Contacts: John Nichols, Non-Executive Chairman
Marnie Millard, Group Chief Executive Officer
Tim Croston, Group Chief Financial Officer
Andrew Milne, Group Commercial Director
Nichols plc
Telephone: 01925 222222
Website: www.nicholsplc.co.uk
Alex Brennan Richard Lindley
Hudson Sandler N+1 Singer (Nominated Adviser)
Telephone: 020 Telephone: 0207 496 3000
7796 4133
Email: nichols@hspr.com
Nichols plc
("the Group")
AGM trading update
John Nichols, Non-Executive Chairman of Nichols plc, the soft
drinks group, will make the following statement at the Group's
Annual General Meeting to be held at 11.00 am today:
Current Trading
The Group's trading performance for the first quarter of 2017 is
in line with management expectations.
In the UK, the Vimto brand continues to outperform the market
with reported sales up by 3.4% compared to the first quarter of
2016. This compares favourably to the total soft drinks market
growth of 1.2% in the same period (Nielsen: ytd to 25 March
2017).
In our international markets, sales to Africa have maintained
the growth momentum from 2016 and as anticipated, the first quarter
has been a busy period for sales of Vimto concentrate to the Middle
East ahead of Ramadan which begins at the end of May.
Board update
The recruitment process for a Non-Executive Director to replace
John Longworth, who steps down from the Board today, is well under
way and we expect to give a further update at the time of our 2017
interim results announcement on 20 July 2017.
Outlook
We anticipate the UK soft drinks market will remain challenging
throughout 2017 with the addition of currency related input cost
inflation to an already price competitive environment.
Against that backdrop, we are pleased with the Group's trading
performance for the first quarter and currently expect full year
earnings to be in line with market expectations.
- ENDS -
Notes to Editors:
Nichols is an international soft drinks business with sales in
over 85 countries, selling products in both the Still and Carbonate
categories. The Group is home to the iconic Vimto brand which is
popular in the UK and around the world, particularly in the Middle
East and Africa. Other brands in its portfolio include Feel Good,
Starslush, Levi Roots and Sunkist.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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