Business
2024 Interim Results
2024 Interim Results.
About this update from Nichols Plc
[{"type":"text","content":"\n\n24 July 2024\n \n(the \"Company\" or the \"Group\")\n2024 INTERIM RESULTS\nStrong first half profit performance and special dividend issued.\nFY24 Adjusted PBT expected to be slightly ahead of expectations.\nNichols plc, the diversified soft drinks Group, is pleased to announce its unaudited Interim Results for the half year ended 30 June 2024 (the 'Period'), with trading during the Period continuing to progress strongly, reflecting the ongoing delivery of the Group's strategic priorities.\n \nKey Financials\n \n\n\n\n\n\n\n\nHalf year ended\n30 June 2024\n\n\nHalf year ended\n30 June 2023\n\n\n \nMovement\n\n\n\n\nGroup Revenue\n\n\n£84.0m\n\n\n£85.5m\n\n\n-1.8%\n\n\n\n\nAdjusted Operating Profit1\n\n\n£13.1m\n\n\n£11.5m\n\n\n+14.1%\n\n\n\n\nAdjusted Profit Before Tax (PBT)1\n\n\n£14.5m\n\n\n£12.3m\n\n\n+18.0%\n\n\n\n\nOperating Profit\n\n\n£10.4m\n\n\n£10.3m\n\n\n+0.5%\n\n\n\n\nProfit Before Tax (PBT)\n\n\n£11.8m\n\n\n£11.2m\n\n\n+5.8%\n\n\n\n\nAdjusted Operating Profit Margin1\n\n\n15.6%\n\n\n13.4%\n\n\n+220bps\n\n\n\n\nAdjusted PBT Margin1\n\n\n17.3%\n\n\n14.4%\n\n\n+290bps\n\n\n\n\nOperating Profit Margin\n\n\n12.4%\n\n\n12.1%\n\n\n+30bps\n\n\n\n\nPBT Margin\n\n\n14.1%\n\n\n13.0%\n\n\n+110bps\n\n\n\n\nAdjusted Earnings per Share (basic)1\n\n\n29.87p\n\n\n25.70p\n\n\n+16.2%\n\n\n\n\nEarnings per Share (basic)\n\n\n24.29p\n\n\n23.31p\n\n\n+4.2%\n\n\n\n\nCash and Cash Equivalents\n\n\n£70.3m\n\n\n£56.1m\n\n\n+25.2%\n\n\n\n\nFree cash flow2\n\n\n£9.0m\n\n\n£5.4m\n\n\n+65.4%\n\n\n\n\nAdjusted Return on capital employed3\n\n\n27.1%\n\n\n25.9%\n\n\n+120bps\n\n\n\n\nInterim Dividend per share\n\n\n14.9p\n\n\n12.6p\n\n\n+18.3%\n\n\n\n\nSpecial Dividend per share\n\n\n54.8p\n\n\n-\n\n\n-\n\n\n\n\n \nAndrew Milne, Chief Executive Officer of Nichols, commented:\n\"I am pleased to report further strategic progress in the first half, resulting in strong double digit increases in adjusted profit before tax and adjusted earnings per share. As a result of our progress, the Board's high levels of confidence in the outlook and the strength of our balance sheet, we are pleased to announce a special dividend of 54.8p per share - which equates to a total of £20m - alongside an 18% increase in the interim dividend to 14.9p per share. This reflects a long history of strong cash flow generation and the Board's commitment to ...