Reduced exposure to pubs boosts Nichols' figures

Cutting back its exposure to the pub sector has boosted sales and profits at Nichols, the dispense system and drinks distributor revealed today.

Announcing its results for the first six months of the year to June 30, 2009, Nichols' non-executive chairman John Nichols said overall turnover had risen 28.4 per cent to £37.5m, with pre-tax profits up more than a third to £4.3m.

The group made strong gains in the soft drinks market thanks to opening new distribution points, resulting in sales of its Vimto brand up 13.4 per cent.

Nichols' dispense operation meanwhile delivered what the company called "significant sales and profit growth", thanks to a reduced focus on the pub and club sectors.

John Nichols said: "Despite the economic doom and gloom, we have had an exceptionally strong first half - which makes this success even more pleasing.

"We expect that we will continue to grow during the second half and for the full year, we anticipate that profits will be ahead of last year and also ahead of current market expectations".