Fever-Tree shows its mettle as sales fizz up 69%Comments Off on Fever-Tree shows its mettle as sales fizz up 69%
Fever-Tree today praised its tinned tonics for topping up another period of stellar growth for the premium drinks brand.
The company, which held a pop-up G&T bar close to Liverpool Street station today, said sales rocketed 69% to £40.6 million in the six months to June 30, while earnings were almost three-quarters higher at £12.4 million.
Shares, which listed n AIM in 2014, jumped 25.5p to 833.4p today. That makes a return of more than 500% for those who bought shares in the IPO.
Chief executive Tim Warrillow said there had been growth across all Fever-Tree’s markets and the 150ml can format – introduced last year – had been particularly successful in the UK. It has now expanded the range to include an elderflower tonic flavour.
Warrillow added however the “exceptional growth” from retail sales may “settle to lower levels”.
The board “remains positive about the outlook for 2016” and declared an interim dividend of 1.54p a share.