Business World

Sunday 18 August 2019

Fevertree fizzed to earnings growth in the first half of the year

Festive Gin and Tonic
Festive Gin and Tonic
Independent.ie Business Desk

Tonic maker Fevertree fizzed to sales and earnings growth in the first half of the year, despite being weighed down by gloomy UK weather.

The mixer manufacturer saw sales jump by 13pc to £117.3m (€130.5m) in the six months to June, as it was lifted by fast-growing global markets.

Sales in the UK, which account for more than half of its total business, rose by only 5pc as the brand was impacted by "unseasonably poor weather".

Tim Warrillow, chief executive of Fever-Tree, said: "It has been an encouraging first half for the group with growth across all our four regions, most notably in the US, where we have 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.

"Whilst we remain mindful of the tough comparators over the remainder of the summer in the UK, the board anticipates that the outcome for the full year will be in line with its expectations."

PA Media

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