UK: Vimto maker Nichols sparkles in 2010
Vimto producer Nichols gives a taste of strong 2010
The producer of the Vimto soft drink, Nichols, has said that profits and sales for 2010 will come in ahead of its expectations.
Net sales for the 12 months to the end of December were "well ahead" of Nichols' internal predictions, the UK-based soft drinks group said in a trading update today (6 January). It added that profits will be "significantly ahead" of 2009 and above market expectations.
"I am pleased to report the excellent trading performance seen in the first half year has continued into the second half of 2010," said John Nichols, non-executive chairman of Nichols. "This has been achieved against very strong comparatives in 2009," he said.
For the first half of 2010, Nichols saw profits rise by a third and sales by 18%. Outside of the UK, the group's Vimto brand has a strong presence in the Middle East, where it is consumed widely during Ramadan.
Separately, Nichols announced today that non-executive director John Bee will step down from its board "to enable the board to be refreshed in line with best practice". Bee has served on the board since 2002. He will be replaced by Eric Healey.
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