Fever-Tree boosted by royal wedding and World Cup
More gin was sold during the three months of the summer in 2018 than the summers of 2014 and 2015 combined.
Fever-Tree has posted a sharp rise in annual sales and profits, helped by gin drinking during the World Cup and last year’s royal wedding.
The premium mixer maker recorded a pre-tax profit rise of 34% to £75.6 million in 2018, while revenue jumped 40% to £237.4 million.
Fever-Tree said it was boosted by last summer’s heatwave, as well as the World Cup and the marriage of Harry and Meghan.
More gin was sold during the three months of the summer in 2018 than the summers of 2014 and 2015 combined, the firm added, with the category now worth £1.9 billion in the UK.
Fever-Tree specialises in selling mixers such as tonic water, ginger beer and Sicilian lemonade.
Founder and chief executive Tim Warrillow said: “2018 was a significant year for Fever-Tree.
“In the UK, we strengthened our position as the leading mixer brand in the Off Trade.
“In the US, we successfully established our own operations and the business made real progress in deepening and widening its presence in multiple European regions.
“As the world’s leading premium mixer brand with a strengthening global distribution network, we are well set to drive the international opportunity as the move towards the premium long mixed drink continues to gather momentum around the world.”
The chief executive added Fever-Tree is trading in line with expectations.
In the UK, its fastest growing market, sales were up 53% and there was 21% growth in the US.
Fever-Tree is now hoping to replicate the group’s UK success in the US.
Last year, the firm inked a distribution agreement with Southern Glazer’s Wine & Spirits (SGWS), North America’s largest distributor of wines and spirits.