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Fevertree Drinks PLC said on Wednesday it delivered a strong set of annual results, with on- and off-trade performing well, though the company warned on inflationary pressures moving forward.
The London-based drinks company reported a pretax profit of £55.6 million in 2021, up 7.8% from £51.6 million the previous year.
Revenue rose further, up 23% to £311.1 million from £252.1 million and up 20% against its last pre-pandemic year. In the UK revenue rose 15% in the year while in the US and Europe revenue rose 33% and 35% respectively.
The company said it is performing well in off-trade in all its key regions. It continued that it expects off-trade demand to remain at higher levels than pre-pandemic looking forward.
Fevertree said that on-trade had continued to recover since the start of the year and looks forward to its full-year of trading for two years following the pandemic.
It declared a final increased dividend of 10.47 pence per share and a special dividend of 42.90p per share as a results of its ‘confidence in the financial strength of the group’. In 2020, the final dividend stood at 10.27p.
However, the company explained that commodity prices have increased significantly in recent weeks because of the events in Ukraine and that this has subsequently created uncertainty in relation to input costs.
As a result, Fevertree now expects an earnings before interest, tax, depreciation and amortisation range between £63 million to £66 million in 2022. This, at best, would represent a 4.8% increase of its 2021 Ebitda figure of £63 million.
Shares in Fevertree were down 0.3% at 1,622.12p on Wednesday morning in London.
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