Beverage Firm Fever-Tree Sees Revenues Up 13% In First Half
Premium mixers firm Fever-Tree has posted a 13% increase in revenue in the first half of its financial year, to £117.3 million (€130.34 million).
The business saw its adjusted EBITDA rise 8% to £36.7 million for the period to 30 June, up from £34 million in the same period last year.
Fever-Tree said that it posted 'continued growth' across all four regions in which it operates, while also strengthening its position as the number one brand in the UK mixer category.
In the US, the business benefited from 'notable national distribution gains', it said, while it also grew in Australia and Canada in the period.
Fever-Tree said that it is continuing to invest in marketing and capability to support its growth across all regions.
"It has been an encouraging first half for the Group with growth across all our four regions, most notably in the US, where we have made significant distribution gains and operational progress," commented CEO Tim Warrillow.
"While we have not been immune to the impact of the unseasonably poor weather in the UK, we have further strengthened our market leadership position within the UK and have seen positive momentum in Europe and the rest of the world reflecting our increasingly global footprint."
Fever-Tree noted that the move to long mixed drinks, away from beer and wine, continues, opening up new opportunities for the group.
"Our broad range of high-quality mixers, relationships with spirits companies, brand strength and our growing international distribution network provide us with confidence in the significant global opportunity that lies ahead for the group," Warrillow added.
"Whilst we remain mindful of the tough comparators over the remainder of the summer in the UK, the board anticipates that the outcome for the full year will be in line with its expectations."
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.