Nichols plc (NICL.L) said the Group has delivered a strong performance in 2023 and expects to report fiscal 2023 adjusted profit before tax slightly above current market expectations. Total group revenue during the year increased by 3.5% to 170.7 million pounds from 164.9 million pounds, prior year. The Group noted that gross margins have been largely maintained despite considerable inflationary pressures early in the year. Cash generation has remained strong throughout the year and, at the end of December 2023, cash and cash equivalents were 67.0 million pounds.
The Group announced that Matthew Nichols will join the Board as a Non-Executive Director with effect from 10 January 2024. Matthew joined the company in September 2006 and has held several senior roles within the Group.
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