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Fevertree off-trade performance remains 'strong' YTD
20th May 2021 09:30
(Sharecast News) - Premium mixers group Fevertree Drinks said on Thursday that its off-trade performance had remained "strong" in the first four months of the year.
Although Fevertree stated it expects some demand to switch to its on-trade as restrictions across the UK ease further, it said it was "clear" that "at-home consumption of long mixed drinks" was becoming "increasingly established", supported by both the retailers and spirit companies.
While the AIM-listed group noted that the pace of the on-trade reopening was going to vary between markets, it was confident that its brand strength and relationships with our on-trade partners made it "well placed" to benefit from its return over the rest of the year.
"The continuation of restrictions relating to the pandemic, along with increasing logistics cost pressures have affected us, alongside the whole industry for the first four months of the year," said Fevertree.
"Despite these sustained impacts, we have delivered a strong sales performance and are trading in line with the board's expectations for the full year to 31 December 2021, assuming levels of uncertainty surrounding the pandemic continue to subside."
As of 0930 BST, Fevertree shares were down 0.23% at 2,560.20p.
Although Fevertree stated it expects some demand to switch to its on-trade as restrictions across the UK ease further, it said it was "clear" that "at-home consumption of long mixed drinks" was becoming "increasingly established", supported by both the retailers and spirit companies.
While the AIM-listed group noted that the pace of the on-trade reopening was going to vary between markets, it was confident that its brand strength and relationships with our on-trade partners made it "well placed" to benefit from its return over the rest of the year.
"The continuation of restrictions relating to the pandemic, along with increasing logistics cost pressures have affected us, alongside the whole industry for the first four months of the year," said Fevertree.
"Despite these sustained impacts, we have delivered a strong sales performance and are trading in line with the board's expectations for the full year to 31 December 2021, assuming levels of uncertainty surrounding the pandemic continue to subside."
As of 0930 BST, Fevertree shares were down 0.23% at 2,560.20p.