Fever-Tree, the premium mixers producer, has said revenue for the year to 31 December is expected to be up 39% to c£236m.
It said trade was boosted by very strong revenue growth of c52% in the UK with robust rate of sales growth in both the on and off trade channels, as well as “significant operational progress in the USA” in its first period of direct management of the region. US growth in the second half accelerated, resulting in full year revenue c21% ahead of 2017. The group said it had also seen an acceleration in sales growth in Continental Europe in the second half of 2018, with full year revenue anticipated to be up c24% with a 48% increase expected in the rest of the world.
Tim Warrillow, co-founder and chief executive of Fever-Tree said: “We have seen very strong momentum across the business during 2018. 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.
“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.
“Drinking habits are changing. The rise of premium spirits and the advent of premium mixers has reinvigorated and re-established the quality and enjoyment of the long-mixed drink, be it a gin & tonic, vodka & ginger beer or whiskey & ginger ale to name but a few. Fever-Tree is at the forefront of this trend, broadening the appeal of the spirits category, drawing in new consumers and with it providing a genuine alternative to the beer and wine occasion.”