Tonic maker Fever Tree loses its fizz
Tonic maker Fever Tree has lost some of its fizz.
The UK drinks company has warned that full-year sales are likely to miss its annual forecast.
It blames “weak consumer spending” in supermarkets and off-licences for the drop.
However, the company has performed well in pubs, bars and restaurants.
Chief executive Tim Warrillow said:
“We continue to see growth across all four regions. Indeed, sales accelerated in our key growth markets of the US and Europe.
“Fever-Tree’s progress in the US is particularly encouraging and the signing of a US bottling partner is a further step in building our operations in this exciting market.
“Despite challenging comparators, our performance in the UK on-trade underlines the strength of the brand and, while the mixer category in the off-trade is moderating alongside the recent slowdown seen across the wider grocery channel, we continue to maintain our clear UK market leadership position.”