Upmarket tonic-water maker Fever-Tree’s growth looked unstoppable on Thursday, as it posted yet another sales jump.
The AIM-listed drinks firm, which also makes ginger beer and lemonade, said 2018 revenues will be around £236 million. That is up 39% from the prior year and ahead of expectations.
Since co-founding Fever-Tree in 2004, boss Tim Warrillow has seen his products become regularly stocked everywhere, from pubs and supermarkets, to aeroplanes and Ascot racecourse. He said today: “It has been another very encouraging year.”
Despite some concerns that the brand could be past its peak, and the threat of new competitors, it saw UK sales leap 52%.
It also toasted growth in the US, where it expanded last year thanks to a new partnership with wines and spirits distributor Southern Glazer’s.
Warrillow said consumers increasingly want premium mixers to go with gin, vodka and whisky.
The shares rose 202p to 2800p. It floated at 134p a share in 2014.
Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: “Fevertree still has its fizz."
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