Premium tonic water maker Fever-Tree has reported robust annual results, buoyed by last summer’s good weather and the ever-increasing popularity of gin.
The group’s total revenue jumped 40% to £237.4m as it continued to expand its presence in the UK and internationally. Pre-tax profit climbed 35% to £75.6m.
However, gross profit margin shrunk from 53.5% to 51.8%, with the group blaming the introduction of the sugar tax last year and higher glass prices.
Tim Warrillow, co-founder and Chief Executive of Fever-Tree, commented: “2018 was a significant year for Fevertree. 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.”
He added: “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.”
