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20 Jan 2020 | 08:37

Fever-Tree warns on profit amid 'subdued' Christmas performance

Fever-Tree warned on profit following a subdued performance over the crucial Christmas period. Revenue was expected to be £260.5m, representing growth of about 10% on-year, but this performance was below the board's expectations, primarily reflecting subdued Christmas trading in the UK, the company said. The expected improvement in trading during the important Christmas period did not materialise with the macroeconomic uncertainty leading to a subdued end to the year across both the on and off-trade, it added. As a result of ongoing investment, margins ended the year behind the company's expectations and earnings were expected to decline by 5% when compared to 2018. In the coming year, gross and adjusted earnings (EBITDA) margins were expected to be 49% and about 28% respectively, with challenging conditions expected to continue in the first half of 2020.

At 8:37am: (LON:FEVR) Fevertree Drinks Plc share price was -401.25p at 1593.75p

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