Nichols CEO Andrew Milne has praised the company’s “meaningful progress” in 2025, as the company grew its revenues globally, maintained profit margins, and stockpiled cash.
Delivering 1.3% revenue growth to £175m, the Vimto and Slush Puppie owner has confirmed in a trading update it expects to achieve pre-tax profit in line with guidance of around £33m.
“The group continues to benefit from its asset-light, diversified business model, with an established and strong UK market position complemented by attractive growth opportunities across the international business,” it said in the update.
Nichols has successfully moved to a “lower-revenue but margin-enhancing” concentrate model in Africa, whereby Nichols ships concentrate to local production facilities for finishing. With African like-for-like growth of 10%, the model helped make up for the impact of an earlier Ramadan – usually a bumper time for the brand – on its Middle East business.
Nichols’ UK packaged business grew by 2.6% in the year to 31 December 2025, reflecting “positive performances across all key subcategories”, the company said, with growth coming from both existing and new products.
“During FY25 we continued to execute our strategic plans effectively,” said Milne.
“We delivered meaningful progress in Africa as we continued our shift to a higher-margin concentrate model in key markets, while our focus on innovation continues to appeal to new consumers in the Middle East.
“Our UK packaged business continues to deliver a strong performance, reflecting the enduring appeal of the iconic Vimto brand and supported by new product development, including our Wonderfuel squash proposition which launched in March.”
Nichols has focused on building a cash pile in recent years, which reached £55.8m in 2025 after further investment in the group’s now-complete ERP implementation, and said it plans a “progressive” dividend policy to return surplus cash to shareholders.
“Given the strength of its financial position and clear growth opportunities in the UK and internationally, the group is confident in the outlook for 2026 and remains well placed to deliver its stated medium-term strategic plans and financial ambitions, driving value for shareholders,” the company added.
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