logo-loader
viewFevertree Drinks

Fevertree Drinks loses fizz as in-line trading news disappoints investors

“The Group's performance in the year to date has been encouraging and at this early stage in the year we are trading in line with market expectations,” said Fevertree Drinks chairman Bill Ronald

fevertree tonic water
In mid-morning trading, Fevertree shares were down 5.6% at 2,761p

Fevertree Drinks PLC (LON:FEVR) shares lost some of their fizz on Thursday after the mixer drinks firm said current trading is in line with market expectations, disappointing investors who have been used to more upbeat comments from the fast-growing group.

In mid-morning trading, Fevertree shares were down 5.6% at 2,761p.

READ: Fevertree Drinks shares sink as co-founder offloads bigger-than-expected stake

In a statement to be delivered at today’s annual general meeting, Bill Ronald, chairman of the AIM-listed firm said: “The Group's performance in the year to date has been encouraging and at this early stage in the year we are trading in line with market expectations for the full year ending 31 December 2018.”

The chairman added that the first four months of 2018 has seen further positive progress, most notably in the UK where - as market leader - the company is well positioned as the wider mixer category continues to evolve.

He also noted that the transition to wholly-owned operations in the US is continuing to plan.

“We have made excellent progress, with the Fever-Tree US team now in place ahead of taking direct management of our distribution network and marketing effort on 1 June 2018,“ Ronald said.

Quick facts: Fevertree Drinks

Price: 2225 GBX

AIM:FEVR
Market: AIM
Market Cap: £2.59 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Carnavale Resources' Humphrey Hale details acquisition of Kookynie gold project

Carnavale Resources Limited's (ASX:CAV) Humphrey Hale speaks to Proactive's Andrew Scott following the news it's acquired the high grade Kookynie gold project. The company's got an option to acquire 80% of three tenements which covers approximately 21 square kilometres and is centred within the...

23 minutes ago

2 min read