Ahead of its AGM today, premium mixer brand Fever-Tree stated that it remained on course to meet full-year expectations after continuing to drive market share gains in the UK and overseas.
The group noted that it was looking forward to the key summer trading period, with it planning a range of marketing initiatives and activations.
In the UK, Fever-Tree said it had strengthened its position through innovation that taps into the growth of Rum, Vodka and other spirit categories, as well as its cocktail mixers, which are gaining popularity.
In the US, the British brand noted that it continues to be the biggest contributor to growth within the carbonated mixer category in retail. It has also extended its leading position in the Tonic and Ginger Beer categories.
In Europe, Fever-Tree said it was seeing good underlying momentum, notably in Italy, France and Denmark. The brand claimed that it continues to grow ahead of the mixer category, with Ginger Beer performing well and Pink Grapefruit gaining good traction.
In its Rest of World division, the group expects to deliver strong growth this year following the set-up of a new subsidiary model in Australia.
Back in March, Fever-Tree delivered relatively solid annual results after a strong performance in the US helped it offset cost pressures. The company said at the time that it expected to double its core profit this year, delivering a profit margin of about 15%.
