Interim Results

NICHOLS (J.N) (VIMTO) PLC
18 August 1999


Contacts: John Nichols, Chairman
          Gary Unsworth, Chief Executive
          Simon Nichols, Finance Director
          J N Nichols (Vimto) plc
          Telephone:     [phone]

          Alistair Mackinnon-Musson
          Philip Dennis
          Square Mile Communications
          Telephone:     [phone]

                      J N NICHOLS (VIMTO) PLC
         Interim Results for the Six Months ended 30 June 1999
                                 
  J  N  Nichols  (Vimto)  plc announces its interim  results.  The
  group  has  five  principal operations: Soft  Drinks  (primarily
  involved  in  the manufacture and sale of Vimto  throughout  the
  world),  Nichols  Foods  (manufacturer  and  supplier   to   the
  vending,  foodservice and retail markets), Cabana  (soft  drinks
  on  draught),  Stockpack (contract packer to the food  industry)
  and Balmoral (hot beverage systems).

  The key points are:
  
  *    Balmoral Trading, a national supplier of beverage systems to
       major blue chip customers, is integrating well.

  *    Restructuring to increase efficiencies:
       -    Group's soft drinks operation successfully moved into new
            purpose built facility
       -    Nichols Foods assumes responsibility for the manufacture of
            Cabana 'on draught' syrups
       -    Nichols Foods assumes responsibility for servicing all of
            Cabana's franchise customers
       -    Group's head office and International Operation moved to new
            premises

  *    John Nichols appointed Chairman and Gary Unsworth appointed
       Managing Director

  *    Group turnover £37.8m

  *    Profit before tax £3.4m

  *    Basic Earnings Per Share 6.27p

  *    Interim dividend increased by 0.1p to 2.90p

  John Nichols, Chairman, commented:
  
  'The  group has seen an enormous amount of change this year  and
  we  are  pleased  with the progress that has been  made.   Stone
  Cross,  our new soft drinks operation, is already showing  signs
  of  operational  efficiencies and we  look  forward  to  further
  gains  from the other parts of the businesses. Balmoral is  also
  integrating  well and we expect to see a number of opportunities
  for  operational  synergies  to  be  gained,  particularly  with
  Cabana.
  
  Please find attached:
  Chairman's Statement
  Tables of figures

Chairman's Statement

Group  activity,  since  we announced our preliminary  results  in
March, reached unprecedented levels and the past months have  been
extremely  busy  for  staff  and  management  alike,  as  a  major
programme of change and improvement was implemented.

In the past six months we have achieved the following:

* Completed  the acquisition of Balmoral Trading Limited,  for
  net  consideration  of  £5.81 million. Balmoral  is  a  national
  supplier  of  hot beverage systems to the catering  and  leisure
  industries and its clients include Little Chef, Burger King  and
  First Leisure.

* Moved the whole of the group's Soft Drinks Operations into a
  brand  new  purpose  built factory at Stone Cross,  which  began
  production in April.

* Moved the manufacturing of 'post-mix' concentrated syrups for
  use  on draught from Cabana into Nichols Foods; the latter  also
  assuming responsibility for servicing all of Cabana's franchises.
  Cabana now focuses on supporting third party customers.

* Relocated  the  group's Head Office  and  the  International
  Operation into new premises.

* Appointed Gary Unsworth as Managing Director of the group and
  I became Chairman.

In  a  half year that has seen an enormous amount of change within
the  group, we are pleased to announce operating results that  are
in  line with last year. Operating profit for the six months to 30
June  1999  was  £3.6 million (1998: £3.6 million) on  a  turnover
slightly ahead at £37.8 million (1998: £36.1 million). Largely  as
a  result of increased financing charges re the costs of  the  new
factory and the purchase of Balmoral, the cash outlay of these two
items  being  around   £15 million, profit before  tax  was  £3.42
million (1998: £3.86 million). Basic earnings per share were  6.27
pence  (1998: 7.02 pence). The Board will pay an increased interim
dividend  of 2.9 pence per share (1998: 2.8 pence) on  25  October
1999, to those shareholders on the register at 24 September 1999.

We  are  pleased with our acquisition of Balmoral, which  has  now
been  part  of the group for three months, it is integrating  well
and there are future opportunities for operational synergies to be
gained,   particularly   with  Cabana.  The   move   of   Cabana's
manufacturing  operation into a new environment at  Nichols  Foods
also makes much better use of the group's assets.

We are also pleased that operational efficiencies at the new Stone
Cross  soft  drinks  production site have  improved  dramatically,
after  some  initial and inevitable start-up problems  during  the
commissioning  phase.  We expect significant further  improvements
will  be achieved. We are also pleased to report that sales within
the  Soft Drinks Operation have improved in line with the weather,
particularly, in July.

Nichols Foods is experiencing some testing market conditions  with
some  fiercely  aggressive pricing being  seen  from  competitors.
Nichols  Foods'  reputation for outstanding customer  service  and
innovation, however, is standing the operation in good stead.  The
integration  of Cabana has also taken up a significant  amount  of
management time, particularly on the customer servicing side,  the
manufacturing element having proceeded smoothly and  according  to
plan.

Stockpack,  the  group's  contract packing  operation,  is  highly
operationally  geared,  being  very sensitive  to  sales  volumes.
Stockpack's  performance in the first half was therefore  affected
by  one  of its major customers rescheduling its orders.  Although
these orders eventually came back onstream the sales shortfall was
not  made up in the first half, and is unlikely to be regained  in
the second.

I would like to thank all of the group's employees, management and
my  fellow Board members for the efforts they have made to  ensure
that our programme of change has been successfully implemented  as
smoothly  as possible. I would also like to thank Tom  Booth,  the
group's  former Chairman, who we are very pleased is remaining  on
the Board as senior non-executive director.

Despite the many changes we have implemented during the first half
year,  good progress is being made and although all our plans  may
not  be  totally complete this year they are well advanced and  we
look forward to the millennium with confidence.

John Nichols
Chairman
18 August 1999

Consolidated Profit and Loss Account

                              Unaudited       Audited
                         Half year Half year    Year
                           ended     ended     ended
                          30 June   30 June    31 Dec
                            1999      1998      1998
                           £'000     £'000     £'000

Turnover                 37,812     36,106    72,966
                      ---------  --------- ---------

Operating profit          3,594      3,629     7,763
Net interest (payable)
 / receivable              (172)       233       342
                      ---------  --------- ---------
Profit before taxation    3,422      3,862     8,105
Taxation                  1,044      1,198     2,619
                      ---------  --------- ---------
Profit after taxation     2,378      2,664     5,486
Equity dividends          1,127      1,063     3,059
                      ---------  --------- ---------
Retained profit           1,251      1,601     2,427
                      ---------  --------- ---------

Earnings per
 share (basic)             6.27p      7.02p    14.67p
Dividends per share        2.90p      2.80p     8.20p

Notes

1.Earnings per share are based on the weighted average  number
  of shares in issue in the six months to 30 June 1999 of 37,914,708
  (30  June  1998, 37,960,645 shares; 31 December 1998, 37,402,333
  shares).

2.The interim dividend of 2.90p (1998: 2.80p) will be paid  on
  25 October 1999 to shareholders registered on 24 September 1999.
  The ex-dividend date is 20 September 1999.

3.The  figures  for  31 December 1998 are extracted  from  the
  financial statements for that year which received an unqualified
  auditors'  report  and  have been filed with  the  Registrar  of
  Companies.

Consolidated Balance Sheet
                              Unaudited       Audited
                           As at     As at     As at
                          30 June   30 June    31 Dec
                            1999      1998      1998
                           £'000     £'000     £'000

Fixed assets
Intangible assets          5,932         -          -
Tangible assets           30,722    22,392     27,325
Own shares                   565       605        588
                       --------- ---------  ---------
                          37,219    22,997     27,913
Current assets
Stocks                     6,704     5,824      6,929
Debtors                   18,599    14,475     15,554
Short term deposits            -     4,000          -
Cash at bank and in hand     304     1,948      1,426
                       --------- ---------  ---------
                          25,607    26,247     23,909
Creditors
Amounts falling due
 within one year          27,273    17,615     20,220
                       --------- ---------  ---------
Net current (liabilities)
 / assets                 (1,666)    8,632      3,689
Total assets less current
 liabilities              35,553    31,629     31,602
Provision for liabilities
 and charges               1,584       966      1,584
                       --------- ---------  ---------
                          33,969    30,663     30,018
                       --------- ---------  ---------

Share capital and reserves
Called up share capital    3,887     3,796      3,696
Share premium account      3,255       746        746
Capital redemption reserve 1,019       919      1,019
Profit and loss account   25,808    25,202     24,557
                       --------- ---------  ---------
                          33,969    30,663     30,018
                       --------- ---------  ---------


This  statement  will be mailed to shareholders  on  or  about  27
August 1999 and copies will be available from The Secretary,  J  N
Nichols (Vimto) plc, Laurel House, 3 Woodlands Park, Ashton  Road,
Newton-le-Willows, WA12 0HH after that date.