25 May 2012

Vimto gives Nichols a boost

06/01/2011 Ben Jaglom

Nichols, the company behind soft drink brand Vimto has released an update in which it remarks on the year’s ‘excellent trading performance’.

The soft drinks specialist enthused that revenues for 2010 were ‘well ahead of our internal plans’ adding that the balance sheet had been ‘strengthened’ with cash generation described as being ‘ahead of expectations’. Profits for the year to December at the AIM-50 quoted outfit were described as both ‘significantly ahead of last year’ and ‘ahead of current market expectations.’

Following the update house broker Brewin Dolphin increased its forecasts, raising its expected pre-tax profits for 2010 by £1.2 million to £14.7 million, while edging its EPS forecast up 2.3 pence to 28.9 pence, and the amount of cash Nichols has at the year-end from £13.7 million to £15 million.

Recommended by Growth Company Investor in 2006 at 213p the shares rose 6.2 per cent today to 478.25p, 124 per cent more than the price we recommended buying at in 2006. With growing sales, particularly of its Vimto brand to the Middle East we would recommend holding on to any shares for the time being following the encouraging news.

Tags: AIM market, Emerging markets, Tourism

Sector: Beverages

Companies: Nichols

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