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Fevertree Drinks warns it will be tricky to top last year’s summer performance

Sales of Fevertree’s fancy mixers boomed during last summer’s heatwave, which makes this year’s comparatives a bit tougher

fevertree tonic
Fevertree’s conveyor belt of guidance upgrades has slowed over the past year

Fevertree Drinks PLC (LON:FEVR) is wary of the tough comparatives it faces this summer, after sales of its posh tonic waters soared during last year’s heatwave.

The £3bn company, one of the biggest on AIM, is known for surprising the market with better-than-expected trading, but it didn’t lift guidance today.

READ: Fevertree rediscovers its fizz after initial post-results dip

It said 2018 was a year of “significant progress” and that it has enjoyed an “encouraging” start to 2019, leaving bosses “confident” of meeting full-year forecasts.

“The beginning of 2019 has seen further encouraging operational progress across our key international regions as the group continues to invest in widening and deepening its distribution networks,” said chairman Bill Ronald ahead of today’s annual general meeting.

“Whilst we are mindful of last year's exceptional summer trading performance in the UK, we remain confident in achieving board expectations for the full year ending 31 December 2019.”

Fevertree shares were down 0.5% at the opening bell on Friday to 2,825p.

Quick facts: Fevertree Drinks PLC

Price: 2004 GBX

AIM:FEVR
Market: AIM
Market Cap: £2.33 billion
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