Nichols FY25 revenues tick up, confident in FY26 outlook

(Sharecast News) - Vimto producer Nichols said on Thursday that it had delivered further strategic progress in 2025, with both revenue and adjusted pretax profits expected to be in line with market forecasts.

Nichols said group revenues rose 1.3% to £175m, helped by the continued shift to a marginenhancing concentrate model in Africa, with packaged revenue up 1.5%, boosted by a 2.6% increase in the UK Packaged division, with gains across all key categories driven by core ranges and new product launches.

International packaged revenues were broadly unchanged year-on-year, though likeforlike growth reached 2% as Nichols continued to transition several African markets to its highermargin concentrate model. Africa delivered 10% likeforlike growth, partly offset by shipment phasing in the Middle East as a result of an earlier Ramadan.

Nichols stated outofhome revenue was stable after the exit of the lowmargin Starslush business, with the division focused on improving profitability, and also noted that gross margins remained firm, supported by cost discipline and the completion of its new ERP system.

The London-listed firm ended the year with £55.8m in cash, up from £53.7m, and said it remains confident in its outlook for 2026.

Chief executive Andrew Milne said: "During FY25 we continued to execute our strategic plans effectively. We delivered meaningful progress in Africa as we continued our shift to a higher margin concentrate model in key markets, while our focus on innovation continues to appeal to new consumers in the Middle East.

"We have a number of exciting plans across our markets in the year ahead and remain focused on driving further progress to deliver our stated medium-term ambitions, leveraging the strength of the Vimto brand, the group's diversified business model and strong financial position."

As of 0850 GMT, Nichols shares were down 1.87% at 991.16p.

Reporting by Iain Gilbert at Sharecast.com