- Soft drinks group Nichols said it expected its annual revenue to rise by more than a fifth, helping its underlying profits to meet guidance, though it also warned of an asset writedown.

Revenue for the year through December had risen 22% to £144.3 million, the company said in a trading update.

Adjusted pre-tax profit was still expected in the range of £21 million to £22 million.

Nichols said it was revisiting the carrying value of its out-of-home drinks business, given the impact of the pandemic.

'It is expected that the goodwill, or part of it, reported on the balance sheet will be impaired,' it said.

'The full review is currently underway and the group will report on the final outcome with its preliminary results. Any adjustment will be exceptional and non-cash.'

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