Nichols enjoys domestic and international growth

Vimto and Panda Pops drink maker Nichols has released half-year results showing both sales and profits bubbling higher.

With revenues increasing 12.4% to £63.5m over the six months to 30 June, the AIM-listed group grew pre-tax profit 6.8% to £12.7m.

Domestic revenue rose 6.7% to £47.5m. Vimto, the company’s flagship brand stayed on course and saw a sales increase of 10% within the UK.

International revenue totalled £16m, a 33.5% increase on the £12m for the same period last year with solid growth in both the African (30.9%) and the Middle Eastern (19.8%) markets.

John Nichols, non-executive chairman of the group, said in a company statement released this morning that he felt "Nichols has delivered another strong performance".

In the company statement Nichols stated that while they expect the market to “remain challenging during the second half of the year” that they anticipate that earnings for the full year will be in line with the expectations of the board.

Interim dividends of 10.1p per share mark a gain of 12.2%.

As of 0930 BST Nichols shares sat at 1,900p a 1.47% (27.50p) variation.