Published on February 4th, 2020 | by Alastair Gilmour0
Where has the gin fizz gone?
During January, tonic water producer Fever-Tree’s shares were trading at their lowest level since April 2017 after the company said it expected full-year profits to be around five per cent lower in 2019 than in 2018.
Indicating that the upscale mixer market might be losing its fizz, Fever-Tree put the share price dip down to poor UK sales over the Christmas period and a general slowdown in consumer spending.
“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,” the company said in a statement.
The brand did however perform strongly in the US, where sales were up by 33%, and also in Europe, which saw a 16% rise in sales last year.