StockMarketWire.com - Drinks maker Fever-Tree said its outlook remained uncertain, even as it reported ongoing growth in its off-trade business during Covid-19 lockdowns.

In the UK, Fever-Tree's off-trade sales for the 12 weeks to 14 June rose 34% year-on-year.

In the US, Nielsen data, which covered just under half of Fever-Tree's US off-trade sales, showed sales rose 89% year-on-year for the 12 weeks to 13 June, reflecting 'the increased at-home consumption during lockdown, as well as the benefit of incremental distribution that was secured over the course of 2019,' the company said.

In Continental Europe, increased uncertainty during the last few months had led some of the company's importers to de-stock, which had impacted its European sales over the first half of the year.

Looking ahead, as reopening measures continued, demand off-trade was likely to wane in favour of on-trade, which referred to demand from pubs and clubs.

'However, the pace and quantum at which this will occur is likely to be gradual as the on-trade still has to contend with cautious consumers, social distancing and therefore lower capacities,' it added.

Fever-Tree also said it had acquired Global Drinks Partnership (GDP), its sales agent in Germany, for about €9.5m.

At 8:05am: [LON:FEVR] Fevertree Drinks PLC share price was -49p at 2369p



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