Fevertree Drinks' profit drops 16% on Molson Coors' partnership impact

Reuters03-24

March 24 (Reuters) - Fevertree Drinks FEVR.L posted on Tuesday a 16% drop in annual profit, as the initial impact of its U.S. partnership with Molson Coors TAP.N weighed on overall margins.

The company reported adjusted core profit of 42.4 million pounds, down from the 50.7 million pounds reported last year. Analysts' expectations, on average, were at 44.4 million pounds, according to a company-compiled poll.

($1 = 0.7449 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Sherry Jacob-Phillips)

((Yamini.Kalia@thomsonreuters.com))

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