Premium mixers brand Fever-Tree, has reported revenue up 71 per cent to £59.3m for the year to 31 December, while pre-tax profits soared to a whopping £16.7m, from just £2.5m the year before.
After listing in October 2014, shares have climbed by around 250 per cent, giving Fever-Tree a market capitalisation of around £680m.
The company is also offering a substantial hike to its dividend, with 2.30p per share recommended to shareholders bringing the total dividend to 3.08p pence per share, up from .30p in 2014.
The strong set of results were boosted by a deal with Marks & Spencer as well as British Airways.
M&S signed a deal with Fever-Tree to stock the up-market tonic water brand in 300 of its Simply Food stores across the UK in October last year, while BA decided to go with Fever-Tree's 150ml cans in its executive club lounges in July.
Charles Rolls, Executive Deputy Chairman of Fever-Tree said:
We are increasingly well positioned to take advantage of the growth in both the On and Off-Trade in all geographies with the brand's growing international reputation. We maintain that the premium segment is still in its infancy and will continue to outperform the other drinks categories as global cross-category premiumisation continues to gain prominence.
The brand’s premium reputation was given a further push after an international drinks survey of 250 bars named Fever-Tree as the best selling and top trending tonic water.
Tim Warrillow, CEO of Fever-Tree said:
In our tenth year of trading we achieved a 71 per cent increase in revenue and 82 per cent increase in adjusted EBITDA, underpinned by strong, improving margins. Growth was strong across all of our four main geographical regions illustrating the global appeal of the brand. We have had an encouraging start to 2016 and look forward to the future with confidence.
The company was founded by Rolls and Warrilow ten years ago, and estimates it controls half the global market for premium mixers.