Fevertree says can't provide guidance due to coronavirus
Posh tonics maker Fevertee said on Monday that it is unable to give guidance for 2020 due to the coronavirus.
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The company, which had been due to release its full-year results on Tuesday, said that notwithstanding tough comparators in the UK, it had made a solid star to the new financial year, with trading in the first two months in line with the board’s expectations and particularly strong in the US.
"However, given the current high level of uncertainty it is too early to quantify the impact the Covid-19 crisis will have on the outturn for the remainder of the 2020 financial year and therefore the board is not able to provide financial guidance at this stage."
Fevertree said that while it will face challenges in the coming months, it is "“extremely secure" financially.
"We are debt free, with a year-end cash position of £128m underpinned by strong cash flows," it said.
"The group's unique asset light, outsourced business model means we have a low fixed cost base, a small, dedicated team and the flexibility to manage the significant challenges ahead."