Fevertree Drinks Reports Trading In Line With Expectations

LONDON (Alliance News) - Fevertree Drinks PLC said Thursday its performance for the first four months of 2018 was "encouraging" and trading remained in line with full-year expectations.

In its annual general meeting statement, Chairman Bill Ronald said the tonic water supplier reported "positive progress" for the first four months of 2018, especially in the UK.

Fevertree Drinks transition the US was "continuing to plan", Ronald said.

"We have made excellent progress, with the Fever-Tree US team now in place ahead of taking direct management of our distribution network and marketing effort on June 1 2018," he added.

The company also appointed Domenico De Lorenzo as non-executive director and chairman of the audit committee with immediate effect.

De Lorenzo previously held the position of Chief Financial Officer at FTSE-100 beverage company SABMiller PLC.

Fevertree shares were trading lower 5.4% at 2,767.20 pence.

Fevertree