Fever-Tree, the world’s leading supplier of premium carbonated mixers, today announced its trading update for the year ended 31 December 2018, ahead of its Preliminary Results on 26th March 2019.
Full year revenue is expected to be circa £236 million, reflecting growth of 39% on 2017, driven by:
- very strong revenue growth of circa 52% in the UK with robust rate of sales growth in both the on and off trade channels. The UK enjoyed an outstanding summer trading period and finished the year with a strong performance over Christmas. The Group further strengthened its position as the number one mixer brand by value in the UK off-trade* whilst continuing to broaden its distribution across the on-trade.
- significant operational progress in the USA in our first period of direct management of the region, with growth in the second half accelerating, resulting in full year revenue circa 21% ahead of 2017. The relationship with Southern Glazer’s Wine & Spirits continues to develop well and the Group is confident that the exclusive on trade agreement signed with them in the second half, alongside the positive progress seen in the off-trade, provides an excellent platform for further growth in 2019.
- acceleration in sales growth in Continental Europe in the second half of 2018, with full year revenue anticipated to be circa 24% ahead of 2017. The Group saw positive momentum across a number of key territories, and we remain at the forefront of the premium mixer category across the region.
- encouraging performance in the Rest of the World with full year revenue expected to be circa 48% ahead of 2017.
Year-end net cash position is anticipated to be in line with Board expectations.
Reflecting the continued strong performance in the second half, the Board expects that the outcome for the full year will be comfortably ahead of the Board’s expectations.