Fevertree Drinks (AIM: FEVR) delivered stronger first-half earnings as US sales accelerated under its Molson Coors partnership and the UK business returned to growth.
Adjusted Fever-Tree brand revenue increased 8% at constant currency to £183.6 million in the six months to 30 June, while adjusted EBITDA rose 9% to £20.1 million.
US revenue increased 11% at constant currency to £66.9 million, supported by broader distribution, stronger merchandising and the launch of Fever-Tree’s first national US marketing campaign.
The partnership with Molson Coors also helped Fever-Tree achieve record retail market shares for Ginger Beer and Tonic in the US.
UK revenue increased 3% to £49.5 million, supported by strong Off-Trade performance, market share gains and favourable summer weather. Fever-Tree’s products beyond Tonic continued to grow faster, with UK revenue from that portfolio up 10%.
Europe brand revenue advanced 10% at constant currency, while Rest of World revenue increased 5%, with Australia, New Zealand and Canada delivering double-digit underlying growth.
Full-year expectations remain unchanged and in line with market forecasts, with the group continuing to trade well after the period end and key commodity costs substantially hedged into 2028.
Chief executive and co-founder Tim Warrillow described the first half as a period of “strong progress”, highlighting building US momentum, the UK return to growth and the widening opportunity for the brand beyond traditional tonic products.
