Vimto maker is booming as its sales shoot up
Vimto, Panda and Sunkist soft drinks maker Nichols' share price fizzed up 10% today as it said it will significantly beat the previous year's profits and City forecasts for 2010.
It said revenues had come in well ahead of its own forecasts with operating margins in line with expectations.
At the half year the group had said that it received an extra boost from the fact that Ramadan fell early in 2010, which had helped to power overseas sales by 39% in the first six months.
The successful launch of Cherry Vimto accounted for around half the estimated 16% rise in UK sales.
Broker Brewin Dolphin raised its profit forecast by £1.2 million to £14.7 million, up from the £12.2 million the company made in 2009.
Brewin has a target price of 525p on the shares, which rose 45p to 495p.
