- Tonic water retailer Fevertree warned on profit following a subdued Christmas trading in the UK.

Revenue was expected to be £260.5m, representing growth of about 10% on-year, but this performance was below the board's expectations, the company said.

An expected improvement in trading over Christmas did not materialise with the macroeconomic uncertainty leading to a subdued end to the year across both the on and off-trade, it added.

As a result of ongoing investment, margins ended the year behind the company's expectations and earnings were seen falling 5%.

In the coming year, gross and adjusted earnings (EBITDA) margins were expected to be 49% and about 28%, respectively, with challenging conditions expected to continue in the first half of 2020.

At 8:37am: [LON:FEVR] Fevertree Drinks Plc share price was -401.25p at 1593.75p

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