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AIM-listed drinks producer Fevertree (LON:FEVR) has announced that revenues for the year ended 31st December soared by 40% and that profits after tax climbed by 35.8%. The company switched to wholly-owned operations in the US during the course of the year and is continuing to expand across Europe.
CEO Tim Warrillow commented: “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.
“At this early stage in the year, the Group is trading in line with Board expectations and we remain excited about the size of the opportunity that lies ahead“.
The price of Fevertree shares rose by 4.60% to 2,659p (as of 14:25 GMT).