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Nichols - Net cash rises to £34m

April 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • NICL
  • Price:
  • 970p
Vimto soft drinks owner Nichols has continued its enviable track record for double-digit growth with pretax profit before exceptionals rising 10% to £22.5m and eps increasing 11% to 45.8p. The exceptional item related to management restructuring (£1.7m) and a provision (£2m) to cover potential costs of a litigation from a licensee in Pakistan. Net cash rose 39% to £34.3m or 93p a share. Growth came largely thanks to a 310 basis point uplift in gross margin reflecting a focus on value over volume in the UK and a more benign cost environment. Within the UK, sales grew 2% to £86.8m, largely thanks to the hot summer boosting H2 sales by 5%. The higher margin stills category was the star with Vimto cordial sales increasing ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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