Beverage company Fever-Tree has seen a 10.1 per cent year-on-year sales bump as people continue to indulge in more alcoholic drinks throughout lockdown measures.
Fever-Tree, which sells carbonated mixers, enjoyed a sales boost in the first four months of the year ending 18 April, thanks to strong levels of ‘at-home consumption’, the group said.
Demand is set to soar as restrictions ease, as the company has been hindered by restrictions that left its trading spaces closed until 12 April or 17 May.
While the pace of trade from bricks and mortar venues is going to vary between markets, the company said it is ‘well placed’ to reap the rewards of sustained lockdown measures over the rest of the year.
Around a third of its venues were able to re-open at reduced capacities in April, with indoor space returning just three days ago which represented about 50 per cent of UK revenue pre-pandemic.
Recovery in Europe is likely to lag behind the UK and US, as the EU restrictions continue to hit the market, Fever-Tree added.
The group, like most, has been hit by the continuation of pandemic restrictions, alongside increasing logistics cost pressures.
However, the board’s expectations for the full year to 31 December remain confident, assuming levels of uncertainty surrounding the pandemic continue to subside.