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Fevertree Drinks PLC - London-based drink mixers producer - Says on-trade sales in UK at the start of the year were impacted by Omicron but that the company has since seen momentum. In the US, Europe and the rest of the world markets, on-trade sales are ‘well above’ pre-pandemic levels. In UK off-trade has re-balanced. Elsewhere, off-trade has performed well, company says, with demand in the US particularly strong.
Looking forward, company says it is dealing with an industry-wide backdrop of logistics disruption, most notably relating to the shipping of products to the US.
Company expects revenue between £355 million to £365 million for the year and earnings before interest, tax, depreciation and amortization between £63 million to £66 million. In 2021, revenue stood at £311.1 million and adjusted Ebitda stood at £63.0 million.
Current stock price: 1,524.00 pence, up 0.1% in London
12-month change: down 41%
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