Belfast Telegraph

Soaring profits a tonic for drinks firm Fever-Tree

Profits at drinks firm Fever-Tree fizzed up over 100% last year, helped by the continued rise in the popularity of gin in the UK.

The firm said pre-tax profits rose to £34.3 million in the year to December 31, a 104% increase.

Sales also rocketed by 73% to £102.2 million.

Fever-Tree, which specialises in selling mixers such as ginger beer and Sicilian lemonade, said its performance in the UK was boosted by the "premium gin and tonic movement", which continues to "gather momentum".

The UK saw sales growth of 118%, helped by strong sales over the Christmas period.

Boss Tim Warrillow described the year as "exceptional".

He said: "2016 has been another exceptional year of growth for Fever-Tree, with strong results achieved across all regions, channels and flavours, emphasising the global appeal of the Fever-Tree brand."

Fever-Tree has secured new deals to supply Asda in the UK, Target in the US and supermarket Rewe in Germany, while it has also expanded the distribution of tonic water with British Airways across its entire fleet.

The group also announced that Charles Rolls will transition from executive deputy chairman to a non-executive role in May.

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