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20 Nov 2019 | 09:45

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

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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