I have been patiently waiting for a pull back but to no avail. I have therefore taken the plunge with my customary ‘half’ now at 1230p and will top up at a later date.
Since the first post, Nichols have issued interim results in July for the 6 months to end June 2013.
Here’s the highlights:
- Profit before tax up 9% to £9.0m
- Basic earnings per share up 11% to 18.76p
- Strong net cash position of £31.2m (H1 2012: £23.6m)
- Exclusive licence to add Extreme Sports and Energy to brand portfolio
- Interim dividend up 13% to 6.32p
I am looking for around 20p dividend for the full year which would put it on a forward yield of 1.6%.
The company are currently planning further growth for 2014 and beyond including the introduction of further new products, entering new international markets as well as continuing to invest in existing core brands.
Nichols is listed on AIM and has a market cap of around £450m. As the rules have recently changed, I have been able to purchase this in my ISA.
More on this in the new year.