Nichols, the manufacturer of Vimto Drink, warned on Monday that its pre-tax earnings for 2020 will be far below current expectations due to a selective tax on sweetened non-carbonated drinks.
The company said it may have to increase the retail price of its drinks to offset the effect of the 50 percent tax.
Nichols added that imposing a tax on sweetened non-carbonated drinks, whether with natural or artificial ingredients, makes changing the composition of the product a futile option.
Vimto is preparing to raise prices
2019-12-23T10:46:25.217Z
Nichols, the manufacturer of Vimto Drink, warned Monday that its pre-tax earnings for 2020 will be far below current expectations due to a selective tax on sweetened non-carbonated drinks. The company said it might have to increase the retail price of its drinks to offset
Source: emara