Tonic maker Fevertree Drinks reiterated its forecast for the year on Thursday ahead of the key summer trading period, where customers are likely to spend on cocktails like mojitos and margaritas.
The British drinks company, which was founded in 2003, said there was strong demand for its mixers for rum, vodka and other spirits in the UK.
It also continued to be the biggest contributor to growth in the carbonated mixer category in the United States.
In March, the company said it expected to double its core profits for the year, delivering a profit margin of about 15%.
Fevertree’s shares gained more than 3% in early trade.
The London-based company, which sells most of its drinks in glass bottles, previously struggled with rising glass costs in Britain.
This was a result of energy price hikes following the Russian invasion of Ukraine.
However, the gradual easing of these costs, combined with strong customer demand for its tonic mixers, helped Fevertree reiterate its annual forecasts.
The company saw strong growth in Europe, particularly in Italy, France and Denmark.
It forecast further growth at its Australian subsidiary, supporting its global market expansion.
