Vimto producer Nichols PLC (AIM:NICL) was in demand on Friday after upgrading profit expectations.
Group revenue in the year-to-date beat forecasts, rising 17% to £107mln, and momentum is estimated to continue into 2022.
The fizzy drinks producer expects full-year adjusted profit before tax to be £21-22mln, but next year’s forecasts remain unchanged due to higher costs for logistics, labour and materials.
The Vimto brand has continued to deliver a strong performance across all of its markets, rising 4.5% in the UK.
In Africa, the Middle East, Europe and the US the brand continued to see progress year on year, with international revenues climbing 36% compared to 2020.
The ‘out of home’ route to market continues to recover from the impact of the pandemic and has seen growth of 29%.
Cash and cash equivalents at the end of the September quarter were £55.6mln.
Shares rose 8% to 1,220p on Friday morning.