Fever-Tree targets lack enough fizz for investors

The pandemic has boosted demand for affordable drinking at home, prompting Fever-Tree to spend heavily in an effort to tap that demand with new drinks and packaging.

Tonic water maker Fever-Tree has forecast a 2021 sales rebound, driven by at-home drinking and a gradual easing of pandemic-led curbs on bars and restaurants, but its revenue and earnings forecasts still fell short of market expectations.

The maker of premium tonics and drink mixers said it expected 2021 sales to grow by 12%-16%, with margins around 2020 levels.