UPMARKET drinks firm Fever-Tree raised its glass yesterday to a 49 per cent jump in revenue in its debut set of results since floating on the London stock market in November.
The 10-year old business reported sales of £24.7m, which in turn lifted adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) by 48 per cent to £10m.
“The really encouraging thing was the growth across all four of our regions despite being a relatively young business,” Fever-Tree’s c-founder and deputy chairman Charles Rolls told City A.M.
Fever-Tree was founded in 2005, initially to create a tonic water to match the UK’s artisan gin revival. It supplies premium mixers such as Sicilian lemonade and ginger beer for all alcohols to retailers as well as hotels, restaurants and bars.
Rolls said ginger beer sales rocketed thanks to the popularity of the Moscow Mule cocktail, helping overall sales in its second largest market grow by 59 per cent. Sales in the UK, still its biggest market, were up an impressive 60 per cent while Europe sales rose by 35 per cent.
The group expanded into eight new territories last year including India, bringing tonic water back to where it was invented. It is now present in 50 territories, with 70 per cent of sales made outside the UK.