Fever-Tree Drinks just keeps going up and up, and its bubble shows no signs of bursting just yet.
The supplier of premium carbonated mixers reported UK growth of 113 per cent today in its first half results.
Revenue for the six months to 30 June fizzed up by 77 per cent to £79.1m, compared to £40.6m in the same period last year.
Adjusted EBITDA more than doubled, growing to £25.2m.
The company also said it had driven 99 per cent of value growth in the entire UK mixer category within retail, giving it a 30 per cent share of the market.
Shares were today trading up 11.95 per cent at 209.7p.
Why it's interesting
Fever-Tree continues to beat market consensus, and chief executive Tim Warrillow said today that the board anticipates full year results to be well ahead of expectations.
Analysts at Investec upped their prediction for full-year pre-tax profit to £49m.
Growth in the UK, however, has slowed slightly, from 118 per cent last year to 113 per cent. Neil Wilson, senior analyst at ETX Capital, said the group will need to maintain high growth in the region to justify its share price.
"Maintaining this level of growth in the UK will be tough as this market could deteriorate over the next couple of years if there is a hit to consumer spending from inflation and any Brexit-related slowdown."
But growth in the rest of Europe means the UK now accounts for less than half of sales, while a deal with a new bottling partner in Spain will allow the company to service Southern European markets.
What the company said
Tim Warrillow, chief executive of Fever-Tree, said: “We continue to invest and improve our infrastructure, relationships with key suppliers and customers as well as adding to our senior team. The strength of our brand and first mover advantage means we are well positioned as the opportunity for premium mixers continues to gather momentum across our key markets.”