The Vimto owner reported revenues of £39.3 million during Q1, up from £38.8 million during Q1 of 2024.
Packaged revenues grew 4% to £21.3 million, the result of distribution gains and underlying volume increases for the Vimto brand, while out of home sales rose by 4.6% to £9 million.
In addition to Vimto, Nichols owns brands such as Levi Roots, ICEE, The Original Slush Puppy and Starslush.
However, international packaged revenue fell by 7.6% year-on-year as anticipated, with the board remining confident about delivering further profitable growth in the international business for the full year.
The group’s balance at the end of Q1 was £60 million, up from £53.7 million as of 31 December 2024.
Expectation for Nichols’ full-year results remain unchanged despite the recent volatility in global markets, which resulted from recent tariff changes implemented by US president Donald Trump.
Nichols has reviewed the potential implications for its operations and has determined that its direct exposure to the most affected markets is limited, representing less than 2% of group revenue.
Andrew Milne, chief executive officer of Nichols, said that the group was pleased to have delivered strategic progress during Q1.
“Our UK packaged business delivered continued growth as a result of increased volumes and distribution gains, reflecting progress against the strategic priorities outlined at our 2024 capital markets day,” Milne added.
“In the international business, we are making good progress with the shift towards a higher margin concentrate model in several of our West African markets. Whilst the move away from shipping finished product impacts revenue, the concentrate model delivers a step change in margins and positions us well to achieve long-term, profitable growth in these markets.
“We continue to expect further growth in FY25 in line with market expectations as we continue to execute our strategy and make progress towards our medium-term financial and strategic ambitions.”
