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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Nichols plc    NICL   GB0006389398

NICHOLS PLC

(NICL)
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Delayed Quote. Delayed London Stock Exchange - 10/23 11:35:08 am
1070 GBX   -4.46%
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Vimto maker Nichols warns of lower 2020 profit on Saudi, UAE sugar tax

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12/23/2019 | 03:23am EDT

Vimto soft drinks maker Nichols Plc on Monday warned its full-year 2020 pretax profit could be materially below current expectations, citing an excise tax on non-carbonated sweetened drinks in Saudi Arabia and the United Arab Emirates.

Shares of the company, which sells its drinks in more than 85 countries, fell 17%, as it said price hikes to offset the 50% excise tax could hurt sales next year.

Nichols' fruit and herb-based drink Vimto clocks about 80% of Middle East sales in just three months - the month of Ramadan and the two months prior to the festival of Eid.

The company reported first-half Middle East sales of 4.6 million pounds earlier this year, compared to group revenue of 71.6 million pounds.

The maker of Levi Roots and Sunkist added that since the tax would be applied on non-carbonated drinks with either natural or artificial sweeteners, product reformulation was not an option.

Nichols expects 2019 pretax profit to be in line with market expectations, with group sales in the full-year seen 4% ahead of last year.

Saudi Arabia has imposed the tax on sugared drinks as it seeks to reduce a budget deficit caused by low oil prices.

The company added that it was developing plans with a long term in-market partner which will need higher investment in Vimto to maintain its market position.

The tax falls under the category of selective taxes on products deemed harmful to public health, and comes after soft drink makers in the UK were hit from a British sugar tax which came into effect in April last year.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Saumyadeb Chakrabarty and Rashmi Aich)


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Financials
Sales 2020 125 M 163 M 163 M
Net income 2020 14,1 M 18,4 M 18,4 M
Net cash 2020 46,0 M 60,0 M 60,0 M
P/E ratio 2020 29,0x
Yield 2020 3,28%
Capitalization 395 M 515 M 515 M
EV / Sales 2020 2,79x
EV / Sales 2021 2,44x
Nbr of Employees 350
Free-Float 69,5%
Chart NICHOLS PLC
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Technical analysis trends NICHOLS PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 1 327,50 GBX
Last Close Price 1 070,00 GBX
Spread / Highest target 45,8%
Spread / Average Target 24,1%
Spread / Lowest Target 12,1%
EPS Revisions
Managers
NameTitle
Marnie Millard Group Chief Executive Officer & Executive Director
Peter John Nichols Non-Executive Chairman
Andrew Paul Milne Group Chief Operating Officer & Executive Director
David Thomas Rattigan Chief Financial Officer
John Anthony Gittins Independent Non-Executive Director
Sector and Competitors
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COCA-COLA HBC AG-23.04%9 278