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24 Jan 2019 | 07:13

Fever-Tree expects results to top expectations following 'exceptional growth' in UK

Premium carbonated drinks supplier Fever-tree said Thursday annual performance would be 'comfortably ahead' of its full-year expectations, led by 'exceptional' growth in the UK.

For the 12 months to December 31, the company expected to report a 39% jump in revenue to £236m.

In the UK, the group's longest established market, revenues jumped by 52% with robust rate of sales growth in both the on and off trade channels.

In the USA, the group’s second largest single market, sales grew of 21% from a year earlier, as growth in the second half accelerated. While in Continental Europe sales rose 24% and 48% in the rest of the world. 'The UK delivered an exceptional performance while Europe has seen positive performance resulting in growth accelerating in the second half. We are particularly encouraged by the progress to date in the USA and the strong platform for further growth this provides,' said Tim Warrillow, Co-founder and CEO of Fever-Tree. 'The progress we have seen during the last 12 months means we enter 2019 very well positioned and remain optimistic about the long-term global opportunity ahead.'

Story provided by StockMarketWire.com
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