Nichols plc are to declare an ordinary dividend of 15.0p per ordinary share (H1 2024: 14.9p), to be paid on 12 September 2025 with a record date of 8 August 2025 and an ex-dividend date of 7 August 2025.
Other financial highlights include:
Group Revenue +1.8% at £85.5m (H1 2024: £84.0m)
- UK Packaged sales increased by +3.7% at £47.0m (H1 2024: £45.4m) with encouraging volume growth from core products and innovation
- In line with expectations, International sales were down -2.5% at £19.5m (H1 2024: £20.0m) due to the shift to the margin enhancing concentrate model in Africa and phasing of Middle East shipments given earlier timing of Ramadan. Strong progress continues in Africa delivering +16.9% revenue growth (H1 2024: -10.1%)
- Out of Home +1.9% at £19.0m (H1 2024: £18.6m) in line with expectations. Further simplification of their operating model and profit focus led to the exit from Starslush business
Gross margin maintained at 44.1% (H1 2024: 44.0%)
- Gross profit increased by £0.7m reflecting UK and International volume growth
- UK margin stable following increased promotional spend on new product innovation including Wonderfuel
- International margin increased with further implementation of concentrate model in West Africa
Adjusted operating profit growth of +4.1% to £13.6m (H1 2024: £13.1m)
- Improved revenue and gross profit
- Continued focus on cost and investment in Operations and supply chain
- Adjusted operating profit margin increased to 15.9% (H1 2024: 15.6%)
Adjusted profit before tax growth of +0.8% to £14.6m (H1 2024 £14.5m)
- Improved operating profit and lower interest income
- Adjusted profit before tax margin of 17.1% (H1 2024: 17.3%)
Exceptional costs of £3.2m (H1 2024: £2.7m)
- Further investment in the Group's business change programme and new ERP system
Strong net cash and cash equivalents at £61.6m (H1 2024: £70.3m, 31 December 2024: £53.7m)
- Free cash flow of £14.2m (H1 2024: £9.0m) driven by lower working capital requirements
- Reduced net interest income of £1.0m (H1 2024: £1.4m) following £20m special dividend paid in H2 2024
- Robust balance sheet allows for on-going delivery against stated growth objectives and capital allocation priorities
