Nichols PLC, a diversified soft drinks Group, has released a trading update for the three months to 31 March 2024, coinciding with the Company's Annual General Meeting. The trading has started in line with management expectations, reflecting the Group's continued strategic progress. The UK Packaged business saw strong growth, with revenues increasing by 6.8% to £20.4m, driven by an underlying volume increase of 4.4% over the Period. The International Packaged revenues decreased by 23.0% to £9.8m, reflecting the timing of shipments into the Middle East and reduced volumes in Africa. The Out of Home (OoH) business showed a decline in revenues by 6.2% to £8.6m, reflecting the withdrawal from unprofitable accounts in the second half of FY23.

The Group's cash and cash equivalents at the end of the Period were £73.0m, showing a healthy financial position. The Board remains confident in the Group's ability to deliver profitable growth in the coming year and achieve its long-term strategic ambitions. The Group's Adjusted PBT expectations for FY24 remain unchanged, with a Group compiled market consensus of adjusted PBT £28.8m. Nichols plc is an international diversified soft drinks business with sales in over 60 countries, home to the iconic Vimto brand, and other popular brands in its portfolio include SLUSH PUPPiE, Starslush, ICEE, Levi Roots, and Sunkist.