Subscribe to the daily newsletter.

Vimto maker announces new chair alongside trading update


Nichols, the maker of Manchester’s legendary fruit drink Vimto, has that Elizabeth McMeikan will be the company’s next non-executive chair, following John Nichols’ decision to retire.

McMeikan previously held executive roles with Colgate Palmolive and Tesco and has served as a senior independent director at JD Wetherspoon and Flybe.

The company added in a seperate trading update to the London Stock Exchange that it is “highly confident” for its long-term growth plans, following an uptick in revenues.

For the 12 months to 31 December 2022, total revenue increased by 14 per cent to £164.9m, with second half performance up 10 per cent year-on-year.

Nichols expects to report FY22 adjusted pre-tax profit in line with market expectations around the £25m mark.

The update added that FY23 is set to be a “challenging year as cost-of-living pressures impact customer demand”, but stated that the group will “continue to seek to mitigate these pressures through both cost efficiency and revenue management.”

“With a long-term track record of growth, a proven and diversified strategy, a quality range of brands and a strong balance sheet, the board remains highly confident that the group is very well positioned to deliver its long-term growth plans.”

Nichols, which also makes the Levi Roots and Sunkist brands, said revenue for the year to December 31 was £164.9 million, a 14 per cent year-on-year increase, while cash and cash equivalents stood at GBP56.3 million as of December 31.

McMeikan said: “Nichols plc is an outstanding business with a proud history and exciting future prospects. I look forward to joining the company and working closely with my new colleagues to contribute to the group’s continued, sustainable success.”

John Nichols, who will remain on the board as a non-executive director, added: “Following a thorough search process, in Liz the nominations committee have identified an outstanding candidate to take over as the group’s next chair. She has significant experience in consumer-facing businesses and public company boards, which I am very confident will be of great value to the group.”

Subscribe to the Prolific North Daily Newsletter Today!

Want all the latest content from Prolific North delivered direct to your inbox daily? Of course you do!

Related News