Vimto owner Nichols has reported a 14.3 per cent revenue increase to £164.9 million despite “ongoing inflationary pressure”, stated recent reports.
The drinks company also saw a 8.2 per cent increase to £78.3m across its still products, while carbonated drink revenue saw a rise of 20.4 per cent to £86.6m. Adjusted profit before tax increased from £21.8m to £25m.
John Nichols, non-executive chairman, said: “Vimto continues to perform well both in the UK and internationally and despite ongoing inflationary pressures, which accelerated during the second half, the brand has ensured a robust financial performance for the group.
“In the UK we have again seen the brand outperform in dilutes and continued to make significant progress in the ready to drink subcategory. Internationally, we continued to see solid growth across all regions. In particular, it was pleasing to see strong underlying growth in both the Middle East and Africa given the importance of these markets to the group.
“With a long-term track record of growth, a proven and diversified strategy in the UK and internationally, a quality range of brands and a strong balance sheet, the board remains highly confident that the group is very well positioned to deliver its long-term growth plans.
“While 2023 will be a challenging year as cost of living pressures impact consumer demand across all routes to market, the group will continue to seek to mitigate these pressures through both cost efficiency and revenue management,” reports quoted Nichols as saying.
Apart from Vimto, other brands in Nichols’ portfolio include SLUSH PUPPiE, Feel Good, Starslush, ICEE, Levi Roots and Sunkist. Vimto is particularly during the holy month of Ramadan as it provides a quick boost of sugar-filled energy following the dawn ’til dusk fast.
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