Nichols(J.N.)(Vimto) PLC
10 May 2000
Contacts: John Nichols, Chairman
Nichols plc
Telephone: 01925 222222
Alistair Mackinnon-Musson
Philip Dennis
Hudson Sandler
Telephone: 020 7796 4133
J N NICHOLS (VIMTO) PLC
Change of Group Name and
Trading Update
J N Nichols (Vimto) plc announces that from the conclusion of
today's Annual General Meeting, it will be changing its name to
Nichols plc to reflect the change in the nature of the Group's
business.
The company famous for its VIMTO soft drinks was formed in 1908 by
John Noel Nichols.
Whilst maintaining its interests solely in soft drinks for much of
its history, the past decade has seen considerable change. Today,
VIMTO accounts for less than half the Group's turnover as
developments into tea, coffee, chocolate and numerous other hot
beverages have been made. It also has significant presence in the
vending and food service markets in addition to providing
manufacturing and co-packing facilities for many of today's major
food brands. Its interests in soft drinks on draught extend into
pubs, clubs, leisure and catering outlets throughout the country
and have recently been strengthened with the acquisition of
Balmoral, the hot beverage systems business. Nichols plc has six
operating businesses, and sells products to over 60 overseas
markets.
Commenting on the change, John Nichols, Chairman and grandson of
the founder, said:
'The developments that have been made within the Group
demonstrate that we are now far more than just a soft drinks
business and our new name, Nichols plc, reflects that.'
The Chairman also made the following comments on current trading
at today's Annual General Meeting:
'The Group's Soft Drinks Division is benefiting from improved
weather and the advertising campaign in the South East region,
where market share is ahead. The new packaging designs are also
proving successful and sales are on target for the year so far.'
'Nichols Foods is progressing as planned and is making solid
headway.'
'The new products in the Beverage Systems operation are proving
to be well received and the first contracts for the hospital
trolleys have been signed. Cabana has been successfully
integrated and costs have been reduced. Overall the operation is
ahead of last year and on target for this.'
'We are particularly pleased with the progress made at Stockpack
which had a difficult year last year and is now trading
profitably, having secured some new significant contracts and is
also benefiting from new management.'
All resolutions at today's Annual General Meeting were passed by
shareholders.
Note to Editors:
A photograph of the launch of the new name, Nichols plc, and signage is
available. Please contact Philippa Robeson at Hudson Sandler on 020 7710 8932.
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