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Stylish tonic water model Fever-Tree has been hit by glass and labour shortages which have jacked up transport prices to the US.
The London-based firm stated it’s experiencing an “exceptionally difficult atmosphere” as a scarcity of staff within the US has pressured it to make and ship extra drinks from the UK amid rising freight prices. The provision of glass can be “severely restricted”.
The replace masking the six months to June 30 drove shares in Fever-Tree almost 28 per cent decrease in yesterday’s buying and selling, down 332.5p at 866.5p. That was regardless of a 14% enhance in gross sales to £161m.
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“While we’re seeing optimistic top-line efficiency and count on to ship good income progress for the complete 12 months, the difficult logistical and price headwinds we highlighted beforehand have considerably worsened in current months and we now count on them to notably impression our full 12 months margins,” chief govt Tim Warrillow stated.
“The enterprise is engaged on numerous initiatives, and extra carefully than ever with suppliers all through our provide chain, to mitigate the transitory headwinds and on the identical time guarantee we will fulfill the sturdy demand we’re seeing in our progress areas.”
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