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Nichols profit slumps 80% as sales sink

By BFN News | 09:13 AM | Wednesday 03 March, 2021


Soft drinks group Nichols reported an 80% slump in annual profit after its revenue slipped and it wrote down the value of its assets. Pre-tax profit for the year through December tumbled to £6.5 million, down from £32.4 million year-on-year, as revenue fell 19% to £118.7 million. Nichols cut its final dividend to 8.8p, down from 28.0p year-on-year, though at 36.8p, dividend payments for the entire year were up from 12.4p in 2019. The company said the introduction of social distancing, enforced closure of out-of-home customers and various lockdown measures across the globe had materially impacted its business. 'Given the continued near-term uncertainty, 2021 guidance remains withdrawn,' Nichols said. At 9:13am: (LON:NICL) Nichols PLC share price was 0p at 1200p Story provided by StockMarketWire.com

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