StockMarketWire.com - Soft drinks group Nichols upgraded its outlook on annual profit following 'strong' performance year to date.

Adjusted pre-tax profit for fiscal 2021 was expected to be in the range of £21 million to £22 million. ahead of the current market consensus of £19.1 million.

Revenue for the nine months through September was ahead of the board's expectations, increasing by 17% year on year to £107 million.

In the UK, Vimto brand value increased by 4.5% year to day.

The group's Out of Home route to market, meanwhile, continued to recover from the impact of the pandemic and had seen growth of 29% year on year, the company said.

Looking further ahead to 2022, the company flagged ongoing inflationary pressure.

'Whilst the group's revenue momentum is expected to continue into 2022, the outlook for the next financial year would be adversely impacted by inflationary pressures including logistics, labour and materials, therefore profit expectations for 2022 remain unchanged,' it added. Story provided by StockMarketWire.com