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    FEVR   GB00BRJ9BJ26

FEVERTREE DRINKS PLC

(FEVR)
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Fevertree profit jumps but supply snags hurt margins

09/15/2021 | 03:06am EDT
FILE PHOTO: Products from the drinks company Fever Tree are displayed in London

Sept 15 (Reuters) - British tonic maker Fevertree Drinks reported higher half-year earnings on Wednesday, but warned rising shipping costs due to global supply chain disruptions were hurting profit margins.

The company, which sells premium tonics and drink mixers, said it benefited from strong sales in the United States during the six months to June 30.

The results come two months after the group raised its annual revenue forecast, betting on people stocking their fridges for the summer and soaring demand from bars and restaurants.

However, global supply bottlenecks at ports and warehouses, partly the result of surging consumer demand as nations emerged out of lockdowns, have pushed up shipping prices, delayed orders and increased costs for companies across industries.

A crippling shortage of truck drivers is also adding to the problem.

Fevertree said the supply snags will likely stretch into 2022.

The company has addressed the issues by increasing shipments to its key U.S. market, building local inventory and working with its UK logisitics partner to manage truck driver availability during peak periods, moves that have increased expenses, it said.

Many of Fevertree's UK peers across industries including major industrial firms and retailers like Ocado and Dunelm are also facing supply disruptions.

Fevertree said half-year revenue jumped 36% to 141.8 million pounds ($196 million), while core profit climbed 23% to 29.2 million pounds. Gross profit margin, the proportion of profits earned from sales, slumped to 44.1% from 46.8% a year earlier. ($1 = 0.7236 pounds) (Reporting by Sachin Ravikumar in Bengaluru; Editing by Shounak Dasgupta)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DUNELM GROUP PLC 0.99% 1482.595 Delayed Quote.21.02%
FEVERTREE DRINKS PLC 3.07% 2397 Delayed Quote.-8.39%
OCADO GROUP PLC 1.00% 1770 Delayed Quote.-23.37%
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Financials
Sales 2021 303 M 413 M 413 M
Net income 2021 42,6 M 58,2 M 58,2 M
Net cash 2021 155 M 212 M 212 M
P/E ratio 2021 63,4x
Yield 2021 0,70%
Capitalization 2 698 M 3 685 M 3 688 M
EV / Sales 2021 8,41x
EV / Sales 2022 7,14x
Nbr of Employees 250
Free-Float 89,7%
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Technical analysis trends FEVERTREE DRINKS PLC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 19
Last Close Price 2 315,00 GBX
Average target price 2 235,94 GBX
Spread / Average Target -3,41%
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Managers and Directors
Timothy Daniel Gray Warrillow Chief Executive Officer & Director
Andrew Branchflower Finance Director & Director
William David Gordon Ronald Non-Executive Chairman
Coline Lucille McConville Senior Independent Non-Executive Director
Kevin John Havelock Independent Non-Executive Director
Sector and Competitors
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