Despite beverage maker Nichols continuing to make good progress in new markets, Berenberg was still concerned that blows to its Middle East operations as a result of the ongoing conflict would hurt profit growth across the firm as a whole.
(WebFG News) - AIM-listed soft drinks group Nichols said on Wednesday that revenue in the first quarter of 2018 is ahead of the previous year.
Vimto and Panda Pops drink maker Nichols has released half-year results showing both sales and profits bubbling higher.
Soft drinks group Nichols cautioned on Wednesday that the UK soft drinks market will remain challenging this year, as it said full-year earnings are anticipated to be in line with market expectations.
Nichols issued a trading update for the year ended 31 December on Tuesday, with group revenue increased 7.3% over the year to total £117.3m.
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Chancellor George Osborne stood by his decision to introduce a sugar tax on Thursday.
Soft drink makers will be forced to pay a new government levy under plans announced by Finance Minister George Osborne in his annual Budget on Wednesday.
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Nichols said trading for the year ended 31 December was in line with the previous year and management's expectations.
Nichols, the UK soft drinks business, has taken an initial 49% equity stake in Noisy Drinks for £2.7m.
Soft drinks producer Nichols said faster growth in the Middle East and in the UK in the second half of the year will boost profit and earning per share growth for 2014.
Soft drinks group Nichols anticipates its full-year performance to be in line with expectations after it unveiled a positive trading statement for the first half of 2014.
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Nichols shares were hit after the High Court ruled that the soft drinks company must pay the equivalent of £8.0m in damages, in addition to costs in the range of £1m-1.5m, following a litigation claim from Gul Bottlers.
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The beverage sector was hit hard on Thursday by disappointing updates from global drinks groups Diageo and Remy Cointreau.
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Double digit profit and earnings per share growth; Growth in UK and international markets; Confident outlook despite cautious UK consumer spending