The British soft-drinks group, Nichols, has announced that its adjusted pretax profit for 2023 is expected to surpass consensus estimates by a small margin. This optimistic projection comes as the company points to a company-compiled consensus which has adjusted pretax profit for the year ended December 31 at £25.4 million ($32.3 million). In comparison, the company reported £25.0 million for the same metric in 2022.
Nichols enjoyed a successful second half of the year, with progress seen in trading and the realization of benefits from its Out of Home business restructuring ahead of schedule. This positive development has given the company a boost.
For the year, Nichols posted revenue of £170.7 million, an improvement from the previous year's figure of £164.9 million. The Packaged business in particular performed well, while the International business saw progress in export sales.
Despite ongoing challenges, Nichols remains confident in its ability to execute its strategic plans and deliver sustainable shareholder returns. With brands like Vimto, Levi Roots, and Sunkist under its ownership, the group is well positioned for success.