Fever-Tree continues fast pace of growth
Fever-Tree has reported that the strong growth recorded during the first six months of 2017 has continued during the second half.
The company expects its results for the full year ending 31 December 2017 will be “materially ahead of current market expectations”, driven by an “exceptional performance in the UK”.
The UK market is the group’s largest market and the company said it has been “particularly impressive” with the rate of sales growth and momentum strong across both the on and off trade.
In a trading update statement it said: “The mixer category is now the fastest growing category across the UK soft drinks sector with Fever-Tree responsible for 97% of the value growth in retail over the last 12 months.”
In September this year the company created the new role of innovation director and it appointed Alexandra O’Rourke to head up this new position. In her new role O’Rourke’s focus is on the innovation pipeline for Fever-Tree.
Fever-Tree saw sales increase by £27.6m to £46.4m in the off-trade over the past year, which equates to an increase of 147% (IRI 52 w/e 22 July, 2017).