Tonic-maker Fever-Tree has reported an encouraging first half of the year as the company achieved continued growth across all four regions, with a particular drive in the US.
The company achieved revenues of £117.3 million in the six months ending 30 June, a 13% increase on the same period in 2018, despite challenging weather conditions in the UK.
The company reported an Adjusted EBITDA of £36.7 million, an 8% increase on the same period last year.
Encouraging Start
Tim Warrillow, CEO of Fever-Tree praised the encouraging start to the year, especially in the US, where the company has made “significant distribution gains and operational progress”.
“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,” he said.
Warrillow added that the group’s move to long mixed drinks is gathering momentum and starting to win share from beer and wine.
“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,” he continued.
The group said that it still expects full-year results within expectations, though it remains ‘mindful of the tough comparators over the remainder of the summer in the UK’.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.
