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Fever-Tree warns on revenue amid slowdown in off-trade business

By BFN News | 09:45 AM | Wednesday 20 November, 2019


Carbonated mixers supplier Fever-Tree warned on revenue following weakness in its UK off-trade retail business amid a slowdown in consumer spending. Fever-Tree said it now expected to report revenue for the full year ending 31 December 2019 in the range of £266m to £268m, representing year-on-year growth of 12% to 13%. 'In the UK off-trade, our performance has been behind our expectations in the second half as we continued to lap very tough comparators in July and August and more recently seen a slowdown in consumer spending, as reflected in the wider retail data,' the company said. The weakness in its UK off-trade business offset ongoing growth in on-trade and stronger performance in its US business. UK on-trade, which accounted for half of the total UK revenue, had continued to perform well in the second half, Fever-Tree said. Following considerable progress seen in the second half, the US business was now expected to deliver growth of 34%, ahead of management's previous expectations, Fever-Tree added. In Europe and rest of the world, meanwhile, the company forecast revenue growth of about 19% and about 35%, respectively. At 9:45am: (LON:FEVR) Fevertree Drinks Plc share price was +148p at 2006.5p Story provided by StockMarketWire.com

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