The maker of Vimto and Slush Puppie made a pre-tax loss of almost £18m during its latest financial year despite its revenue rising to nearly £145m.
Newton-le-Willows-headquartered Nichols plc has reported a loss of £17.6m for the 12 months to December 31, 2021, compared to the profit of £6.5m it achieved during the prior year.
The company has also posted a revenue of £144.3m for the period, a rise from £118.6m.
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On an adjusted basis, the firm's pre-tax profits rose from £11.6m to £21.8m.
Non-executive chairman John Nichols said: "The continued strengthening of the Vimto brand, both in the UK and internationally, combined with the benefits of our diversified business model, has ensured another resilient financial performance in the period.
"We have achieved significant outperformance of the Vimto brand in dilutes in the UK, and we delivered solid growth internationally, particularly in Africa where we continue to grow, and critically delivered a robust performance in the Middle East.
"In this, my 50th year with the group, I would like to wholeheartedly thank everyone for their efforts.
"The Coronavirus pandemic has continued to present significant challenges for us all throughout 2021.
"Our first and most important objective continued to be the protection and wellbeing of our employees and customers.
"Throughout these difficult times, I have been delighted to witness how our colleagues have pulled together and consistently demonstrated their values and commitment to our business.
"The group enters 2022 with excellent momentum and in a strong financial position.
"The group's adjusted PBT expectations for the year FY22 are unchanged, whilst we remain mindful of the well-publicised inflationary pressures which are now being realised.
"In the medium term for 2023 we expect continued revenue growth as well as inflationary and legislation cost pressure.
"We expect to see high single digit growth in group adjusted PBT versus FY22.
"The board believes the group is well positioned to deliver against its long-term growth plans."
