Sparkling drinks company Fever Tree said today that it expects 2017 performance to be above market expectations.
Chairman Bill Ronald said in today's AGM: “Given the strong sales in the period to date, the Board anticipates that the results for the full year ending 31 December 2017 will be comfortably ahead of current market expectations. We look forward to reporting further on our progress at our interim results in July.”
The UK-based company grew its revenue by 73 per cent last year to £102.2m. Following this morning's announcement, analysts at Investec adjusted projections for Fever Tree's full-year revenue growth to 25 per cent, up from 15 per cent.
The company produces premium sparkling mixers such as tonic, lemonade and ginger beer. It recently signed a partnership deal with cricket ground Lord's to serve gin and tonics during matches.