UPDATE 1-Fever-Tree Drinks says it is confident of meeting annual outlook view; increases buyback
Molson Coors Beverage Company Class B TAP | 0.00 | |
Inspire Faithward Large Cap Momentum ESG ETF Inspire Faithward Large Cap Momentum ESG ETF FEVR | 0.00 |
Adds details on outlook and context throughout
June 9 (Reuters) - Fever-Tree Drinks FEVR.L said on Tuesday that it is confident of meeting full-year market expectations for revenue and core profit, despite costs pressures from the Iran War, as the tonic maker's U.S. partnership with Molson Coors TAP.N. progresses.
Consumers globally are cutting back on alcohol and opting for lower calorie beverages, a shift that the London-listed group is placed to benefit from through its premium beverages and mixers such as ginger ales and sodas.
Separately, Fever-Tree increased its share buyback programme by £30 million ($40.08 million), adding that it had also significantly extended coverage through 2027 and into 2028 for energy costs and raised its hedging for other cost pressures.
The company reiterated that its 2026 glass costs are fully hedged.
($1 = 0.7486 pounds)