A solid Q1’23 update from Nichols today with revenue up 4.2% vs a stiff 29% comp. International was the standout feature, led by good momentum being sustained in Africa reinforcing Nichols’ geographic diversity. Inflation continues to be effectively managed. The other main news is the resignation of the CFO. In our view, post the successful OoH strategic review, he leaves Nichols on a much stronger strategic and financial footing. A search for a successor has commenced. With full year PBT expect ....
