Fevertree the fizzy drinks company lost its fizz during the Christmas period as shares fell more than 20%, due to a weaker festive season.
The company said their mixers such as ginger beer and tonic water have “not been immune from the consumer belt tightening.”
They added, the “expected improvement in trading during this important period did not materialise.”
UK sales shrunk by 1% to £132.6m and Fevertree’s share price fell the lowest since April 2017 by 435.5p to £15.59.
Europe saw sales growth of 16% while the US soared by 33%.
Nicholas Hyett, equity analyst at Hargreaves Lansdown said, “Fevertree’s full year trading update made for ugly reading.
“Falling sales in the UK will inevitably spark fears the gin boom has turned to bust, while guidance for weaker sales in the US and lower margins undermine Fevertree’s long-term pitch that it can replicate its success across the pond.”
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