Fever-Tree cheers 'exceptional growth' as sales soar 77% to £71.9m
Drinks firm Fever-Tree has upgraded its profits forecast after revenues fizzed up in the first half of the year.
The firm said sales rose 77% to £71.9 million in the six months to June 30, while pre-tax profit jumped from £11.8 million to £24 million in the period.
Fever-Tree, which specialises in selling mixers such as ginger beer and Sicilian lemonade, said its performance was driven by the UK, where it saw "exceptional growth of 113%".
The company said the board now anticipates that the "outcome for the full year will be materially ahead of its expectations".
Fever-Tree boss Tim Warrillow said: "We are delighted to report another strong performance in the first half of 2017, continuing the momentum seen in 2016.
"We achieved growth in all our regions, driven by further distribution gains and underlying rate of sales growth as the two key trends of premiumisation and mixability continue to gather pace globally."
Revenue in continental Europe grew 64% in the period, with a "gin and tonic trend" helping boost sales.
Ginger beer is also proving popular in in Italy, the company added.
In May, o ne of the founders of Fever-Tree - deputy chairman Charles Rolls - toasted a £73 million windfall after cashing in on the firm's recent success by selling a stake in the group.