Fever-Tree has released a half year trading update for the six months to 30 June 2021 with revenue up and ”clear signs of pent-up demand” as hospitality reopens.
Fever-Tree has released a half year trading update for the six months to 30 June 2021.
UK revenue is up 4% vs. the previous year, at £48.3m.
Fever-Tree delivered “strong sales growth” as hospitality re-opened during the second quarter, and “off-trade sales remained very encouraging.”
Fever-Tree suggests there have been challenges around the cost of logistics with Tim Warrillow, CEO of Fever-Tree commenting, “Our margins have been notably impacted by global logistics disruption. Despite this, we remain confident as ever in the strength of our business model and the opportunity to improve margins.”
Regarding the reopening of hospitality Fever-Tree highlights, “clear signs of pent-up demand as bars, restaurants and pubs reopened, albeit slightly tempered by the continuation of social distancing and capacity restrictions,” and the company remains positive about the continued lifting of Covid restrictions
“Our long-term opportunity continues to be enhanced by the structural trends we are seeing, including the growing interest in premium spirits and the popularity of long mixed drinks,” concludes Warrillow.
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FINANCE
Fever-Tree boosted by the reopening of hospitality
Fever-Tree has released a half year trading update for the six months to 30 June 2021 with revenue up and “clear signs of pent-up demand” as hospitality reopens. UK revenue is up 4% vs. the previous year, at £48.3m. However margins have been under pressure from global logistics disruption.
