Nichols (AIM:NICL) – nice update from one of our favourite AIM for IHT planning stocks
The AIM quoted soft drinks business with brands including Vimto, Sunkist, Panda & Weight Watchers issued the usual solid pre-close trading update for the year ending 31 December 2013.
Group sales in the second half of 2013 grew by 4% compared to the prior year and will total c£109.9m for the full year, 2% ahead of 2012. UK sales increased 5% year on year taking the full year total to c£86.8m, 2% ahead of the prior year and the international business (Vimto is sold in 65 countries), delivered full year sales of c£23.1m which is 2% ahead of the prior year. Yet another rock solid performance from this highly rated group. The valuation is fairly rich at over 24x 2014 estimates but this high quality group is cash rich…