logo-loader
viewFevertree Drinks PLC

Supermarkets help Fevertree to fizz up H1 profits

Fevertree has done deals with Morrisons, Sainsbury's and Waitrose

1-Fevertree.jpg
Drinkers are mixing spirits and Fevertree tonics

New supermarket contracts and a deal with British Airways added some fizz to half-year profits at mixer maker Fevertree Drinks (LON:FEVR).

In the UK, Fevertree started selling its carbonated mixers to Morrisons (LON:MRW) in the first half of 2015. 

Its new tonic and naturally light tonic was launched in Sainsbury's (LON:SBRY) at the end of June, in Waitrose in July and was listed in BA First Class and Club World cabins as well as lounges throughout the UK.

Fevertree does 70% of its sales outside the UK, with key markets in the US and continental Europe. It launched in 2005 and distributes to about 50 countries worldwide.

In the US, a taste for Moscow Mules continued to drive growth in ginger beer sales and growth across flavoured tonics reflected rising popularity of premium gin and tonic.

In mainland Europe, sales rose 61% as some importers took large orders in June in advance of the summer season.

Group pre-tax earnings before interest, depreciation and amortisation rose 68% to £7.2mln on a 62% gain in revenue to £24.1mln.

Fevertree is paying an interim dividend of 0.78p per share.

Co-founder and chief executive Tim Warrilow said: "The group's strong performance throughout 2014 has continued into the first half of 2015.

"The group remains ideally positioned to benefit from the ongoing global trend to greater premiumisation and looks to the future with confidence."

Shares rose 3.5p to 369.5p in early afternoon London trading.

Quick facts: Fevertree Drinks PLC

Price: 2153 GBX

AIM:FEVR
Market: AIM
Market Cap: £2.5 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Impax Asset Management reveals key themes investors should...

Impax Asset Management Group PLC (LON:IPX) Head of Client Services and Business Development David Richardson tells Proactive key themes investors should look out for in 2020.  Richardson says he's seeing expansion in developing renewable energy projects in Europe, increased interested in...

1 day, 8 hours ago

RNS

Director Disclosure

1 week, 1 day ago

Trading Update

2 weeks, 3 days ago

Director/PDMR Shareholding

2 weeks, 5 days ago

Interim Results

on 23/7/19

2 min read