Fevertree boss Tim Warrillow quadruples pay package in 2018
The chief executive of Fevertree more than quadrupled his pay package last year, after the firm reported a surge in profits and revenue despite challenges posed by a new sugar tax.
Tim Warrillow’s remuneration hit 3.98m last year, up from 844,000 the year before, the company revealed today.
Read more: Fevertree's remarkable turnaround
Performance incentives paid out over £3m for the company’s boss and founder, from nothing last year, while his annual bonus and base salary only increased marginally.
Fevetree declined to comment to City A.M.
Meanwhile, finance director Andrew Branchflower saw his pay rocket to £1.9m, from 540,000 in 2017.
Profit after tax rose 26 per cent in 2018 to £61.8m, even though margins were squeezed to 51.8 per cent by the UK’s sugar tax.
Read more: UK sugar tax squeezes Fevertree margins even as profits fizz
Shareholders were given a dividend of 14.5 per share, up from 10.65 the year before.
Tonic maker Fevertree has been boosted by a boom in gin demand.