Fevertree Drinks (AIM:FEVR) PLC repeated its guidance for 2022 after a “solid start” to the year, although inflation and logistics disruptions pose a challenge.
The supplier of premium carbonated mixers said the UK, its most mature market, has seen on-trade sales momentum grow from month to month after the impact of the Omicron variant of Covid-19 at the start of the year. In the US, Europe and rest of the world, on-trade sales are “well above” pre-pandemic levels, the company said in a trading statement.
Meanwhile, UK off-trade continues to rebalance, as the on-trade business is re-emerging following the easing of pandemic restrictions.
“We remain well placed as we move into the summer months and have strong plans in place with retailers, most notably around the Platinum Jubilee celebrations in early June,” Fevertree said.
In the US, where consumer demand remains “very strong”, off-trade sales have grown 150% from pre-pandemic 2019, the company added.
It reiterated its guidance for 2022 of revenue in the range of £355mln-£365mln and EBITDA between £63mln and £66mln.
It is working to mitigate costs relating to inflation and shipping disruptions, including ramping up its US East Coast production.