Fevertree shares rise on sales growth
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AIM-listed soft drinks firm Fevertree (LON:FEVR) has said that revenues for the year ended 31st December would be £236 million, a 39% increase over the prior year. Sales growth in the UK was particularly strong with good operational progress in continental Europe and the USA.
CEO Tim Warrillow 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“.
Fevertree’s share price climbed 14.68% to 2,979.34p (as 15:15 GMT).
A terrific simple company
Warren Buffett would buy it if it were bigger as it satisfies all his criteria
Perhaps Fundsmith new investment trust should take a long term stake