Fever-Tree sees slowdown in growth for first half of 2019
Fever-Tree has announced its rapid growth in sales is slowing down in the UK, hindered by “seasonably poor weather” earlier this year.
The group said revenues rose 13% to £117 million in the half-year to June 30 2019, compared with the same period in 2018. Sales in the UK – which account for more than half of its total business, rose by only 5% to £60.7 million.
The growth fell short of analysts predictions, although the producer said it still expected to meet forecasts for the full year.
The company is the number one in the mixer category by value in the UK off-trade, with a market share of 39%, according to IRI data.
Tim Warrillow, chief executive, said: “We have not been immune to the impact of the seasonably poor weather in the UK, we have further strengthened our market leadership position within the UK and have seen positive momentum in Europe and the rest of the world, reflecting our increasingly global footprint.
“The move to long mixed drinks is gathering momentum and starting to win share from beer and wine.
“While we remain mindful of the tough comparators over the remainder of the UK summer, the board anticipates that the outcome for the full year will be in line with its expectations.”