Business
Year End Trading Update
Year End Trading Update.
About this update from Fevertree Drinks Plc
[{"type":"text","content":"\n \nRNS Number : 2405A Fevertree Drinks PLC 20 January 2020 \n\n20 January 2020\nFevertree Drinks plc\n (\"Fever-Tree\" or the \"Group\")\n \nYear End Trading Update\nFever-Tree, the world's leading supplier of premium carbonated mixers, announces its trading update for the year ended 31st December 2019, ahead of reporting its Preliminary Results on 24th March 2020.\n \n\n\n\n\n\n\nRevenue\nFY2019\n\n\nRevenue\nFY2018\n\n\n% change\n\n\n\n\n\n\n\n£m\n\n\n£m\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nUnited Kingdom\n\n\n132.6\n\n\n134.1\n\n\n-1%\n\n\n\n\nUnited States of America\n\n\n47.6\n\n\n35.8\n\n\n+33%\n\n\n\n\nEurope\n\n\n64.4\n\n\n55.5\n\n\n+16%\n\n\n\n\nRest of the World\n\n\n15.8\n\n\n12.0\n\n\n+32%\n\n\n\n\n\n\n\n260.5\n\n\n237.4\n\n\n+9.7%\n\n\n\n \nGroup revenue is expected to be £260.5 million representing growth of c.10%, reflecting the significant progress made during 2019 across many of our regions. However, this performance is below the Board's expectations, primarily reflecting subdued Christmas trading in the UK. \nOur key growth markets delivered a strong performance with sales accelerating in the second half in the US and Europe as well as a notable end to the year in Australia and Canada. As we enter 2020, the Group is seeing this good momentum continue across multiple regions. While the UK has performed below expectations, it has been a year when we have lapped exceptional comparators and despite that we have retained our clear category leadership position and are very well placed to return to growth as we proceed through 2020.\nUK\nAs reported, the wider retail environment in the UK experienced a challenging Christmas with the mixer category not immune from the weak consumer confidence and corresponding slowdown in spending. Whilst Fever-Tree remained the clear market leader, the expected improvement in trading during this important period did not materialise with the macroeconomic uncertainty leading to a subdued end to the year across both the On and Off-Trade. \nWhilst we expect conditions for the category to remain challenging in the first half of 2020 reflecting the current level of consumer confidence, our brand strength, operational improvements, distribution opportunities, and our innovation pipeline, alongside softer comparatives in the second half, provides us wi...