StockMarketWire.com - Fevertree reported a rise in half-year profit as a recovery in on-trade sales over the summer helped offset a fall in gross margin amid on-going global logistics disruption and cost pressures.

For the six months ended 30 June 2021, pre-tax profit rose 17% to £25.3 million year-on-year as revenue jumped 36% to £141.8 million.

'On-trade sales have performed well as markets started to recover during the second quarter,' the company said.

Gross margin fell 270 basis points to 44.1%, which the company attributed to 'on-going global logistics disruption and cost pressure.'

The company recommended an interim dividend of 5.52 pence per share, an increase of 2% year-on-year.

Looking ahead, the company reiterated guidance from July, with FY21 revenue forecast in a range of £295 million to £304 million.

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