Full-year profits are set to be ahead of market expectations and could reach £22m at the soft drinks company who own the iconic Vimto brand after a strong 2021 so far. Nichols’ revenue jumped ahead of the board’s expectations and increased by 17% year on year to £107m, whilst Vimto continued to deliver a strong performance across all of its markets.
Whilst this momentum is expected to continue into 2022, the outlook for next financial year is adversely impacted by inflationary pressures including logistics, labour and materials. Nichols will be looking at new ways to generate sales via new campaigns and an agency review may be imminent. The company invested £1m in Q2, the most it had ever spent since 2014. Usually, the company’s media budgets does not exceed £500,000.