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Fevertree Drinks PLC - FCA letter re Release of Preliminary Results

RNS Number : 1873H
Fevertree Drinks PLC
23 March 2020
 

23rd March 2020

Fevertree Drinks plc

 ("Fever-Tree" or the "Group")

  

FCA letter re Temporary Moratorium on Release of Preliminary Results

The FCA issued guidance on 21 March 2020 requesting public companies to delay the announcement of Preliminary Results for at least two weeks, due to the challenges caused by the Coronavirus crisis. Consequently, while Fever-Tree intended to announce its Preliminary Results for the year ended 31 December 2019 on 24 March 2020, the Group will follow the FCA's request and confirms that it will defer the publication of its results.

Fever-Tree is a global business with revenue diversified across regions, channels and customers. Notwithstanding tough comparators in the UK, the Group has made a solid start to the new financial year, with trading in the first two months in line with the Board's expectations, with the US in particular seeing strong trading.

However, given the current high level of uncertainty it is too early to quantify the impact the COVID-19 crisis will have on the outturn for the remainder of the 2020 financial year and therefore the Board is not able to provide financial guidance at this stage.

Our focus, first and foremost, is on the health and wellbeing of our employees, customers and partners across all our regions. Whilst we will face challenges in the coming months, financially the Group is extremely secure. We are debt free, with a year-end cash position of £128m underpinned by strong cash flows. The Group's unique asset light, outsourced business model means we have a low fixed cost base, a small, dedicated team and the flexibility to manage the significant challenges ahead.

The Group will await further guidance from the FCA with regard to the timing of the publication of its Preliminary Results. 

For further information:

 

Fevertree Drinks plc                                                                     +44 (0)20 7349 4922

Tim Warrillow, Co-founder and CEO

Andy Branchflower, CFO

Oliver Winters, Communications & IR Director     

 

Numis Securities - Nominated Adviser and Joint Broker         +44 (0)20 7260 1000

Garry Levin

Matt Lewis

Hugo Rubinstein

 

Investec Bank plc - Joint Broker                                                +44 (0)20 7597 5970

David Flin

Alex Wright

David Anderson 

 

Brunswick Group                                                                         +44 (0) 20 7404 5959

Jonathan Glass

Fiona Micallef-Eynaud

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Fevertree Drinks

Price: 2300

Market: AIM
Market Cap: £2.67 billion
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