Skip to content
Search
AI Powered
Latest Stories

Vimto maker eyes international growth after strong year

Vimto Rangeshot

Vimto owner Nichols plc is eyeing more international growth after enjoying a “strong” year as the cost of living crisis eased.

In a brief trading update, the soft drinks supplier noted that trading in the second half of last year had continued the positive momentum from the first and was in line with its growth strategy and medium-term financial ambitions.


Group revenue rose by 0.8 per cent to £172.1m as Nichols continued to perform well within its packaged business, which saw sales grow by 3.8 per cent. This was driven by particularly solid trading in the UK, where sales rose by 5.4 per cent, largely due to innovation and distribution gains.

However, in line with the company’s expectations, Out of Home (OoH) revenue fell by 8.2 per cent following exits from unprofitable accounts as part of plans outlined in its 2022 strategic review.

Meanwhile, gross margins continued to improve as inflationary pressures eased during the year and as its overall product mix improved. Nichols noted that this stability has enabled increased investment in the long-term strategic development of the business.

Whilst inflationary pressures now appear to be moderating in the UK, Nichols stated that it “remains mindful” of continued uncertainty affecting some of its markets and necessary mitigating actions are in place.

Vimto has a huge international reach and is particularly popular in cordial form in the Middle East during Ramadan. Nichols said full year revenues were in line with 2023 “despite the shift to a lower revenue but margin enhancing concentrate model across several African markets”.

“The group continues to derive considerable benefit from its diversified business model, with an established UK position complemented by the significant growth opportunities within the International business.

"Within the Packaged business, the Group continues its strategy of investing in extending the product range and in the development of its international markets, both of which are expected to continue to provide growth over the medium-term."

Chief Executive Andrew Milne commented, “I’m pleased to report Nichols delivered a strong performance in FY24, with good progress made against our strategic plan and towards our medium-term financial ambitions.

“Our strategy will drive a high-margin, highly cash-generative, diversified business, built on the unique strength of the Vimto brand. Looking ahead, we remain focused on continuing to execute our strategic plans and driving further progress against our medium-term ambitions.”

John Noel Nichols invented Vimto in Manchester in 1908. His grandson John Nichols is still on Nichols plc's board of directors. Last year his son Matthew Nichols, already Commercial Director – International in the group’s packaged drinks business, joined him on the board.

More for you

Ashton Primary students bake Valentine’s shortbread for residents.

Ashton Primary School Valentine’s baking

Preston school children show love for their community on Valentine’s Day with support from SPAR

Children in Year Four at Ashton Primary School in Preston have baked heart-shaped shortbreads dipped in chocolate and have donated them to residents at Abraham House, Marina View, and Swansea Terrace.

The tasty treats were well received by residents and the project has supported the children to develop new skills and broaden their awareness of the community around them.

Keep ReadingShow less
​Small businesses in UK are Cherished by 63% of Consumers

Small businesses in UK

iStock image

Brits show strong support for small businesses, shows survey

A good majority of Brits likes to support small businesses all the year round, shows a recent survey, suggesting affection for the UK’s small businesses remains strong.

According to a recent from American Express based on the survey of 2,000 adults, two-thirds (63 per cent) of consumers believe it is important to support small independent businesses all year round, and not just during seasonal peaks like Small Business Saturday, which in 2024 saw a collective £634m spent in-store and online.

Keep ReadingShow less
Deliciously Ella founder rescues Allplants from administration

Deliciously Ella founder rescues Allplants from administration

Deliciously Ella

Deliciously Ella founder rescues Allplants from administration

Plants, a UK-based health-food brand and business set up by Deliciously Ella founder Ella Mills, has acquired the Allplants assets from administration.

According to a statement signed off my Mills and her husband Matthew, Plants has bought Allplants “name and associated brand assets”.

Keep ReadingShow less
​CMA proposes changes in baby formula market.

CMA proposes changes in baby formula market.

iStock image

Sweeping changes proposed on baby formula trading

Regulators have proposed sweeping changes for the baby formula industry after finding that parents could save about £300 a year by switching to lower-priced products.

The Competition and Markets Authority (CMA) today (14) said issues such as high prices and branding in the industry were leading to “poor outcomes”.

Keep ReadingShow less
Unitas Wholesale celebrates Parfetts' expansion

Unitas Wholesale celebrates Parfetts' expansion

Unitas Wholesale

Unitas celebrates Parfetts’ 'second new depot in three years'

Buying group Unitas Wholesale has welcomed the announcement made by its wholesale member Parfetts over its expansion in south of England with the opening of a new depot in Southampton.

As announced today (13), Parfetts is set to open a new 113,000 sq ft depot that will enable it to deliver across the south coast and into Greater London while also serving as cash and carry depot for retailers across the region.

Keep ReadingShow less