Fever-Tree's shares fall as co-founder Charles Rolls sells £73m worth of shares

Shruti Tripathi Chopra
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The mixer maker grew its revenue by 73 per cent last year to £102.2m (Source: Getty)

Fever-Tree's co-founder Charles Rolls has sold £73m worth of shares, the premium drinks brand revealed today.

Rolls sold 4.5m of shares at a price of 1625p or around four per cent of his stake in the company. The Fever-Tree co-founder still holds a stake of more than 11 per cent in the company.

Earlier this year, the company announced that Rolls would step down as Fever-Tree’s executive deputy chairman and take up a non-executive position.

The mixer maker grew its revenue by 73 per cent last year to £102.2m, the Aim-listed company revealed this month. Analysts revised up Fever-Tree's full-year revenue growth to 25 per cent, up from 15 per cent.

Read more: Fever Tree fizzes with higher than predicted expectations

Bill Ronald, chairman of Fever-Tree, said: “2016 was another exceptional year for Fever-Tree which saw the Group continue to gain market share in both the on and off trade across all our markets.

"Fever-Tree remains the pioneer and market leader of the premium mixer category and the momentum seen in 2016 has continued in the first four months of 2017. 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."

Shares were down 4.35 per cent at 1,748p at the time of writing.

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