Yahoo Finance Fever-tree keeps on bubbling as its profits double
Shares in Fever-tree fizzed more than 9% higher on Tuesday after the posh mixers maker’s extraordinary march continued and it upgraded profit forecasts yet again.
The drinks manufacturer said cheers to a 77% sales jump to £71.9 million in the six months to June 30, while pre-tax profits more than doubled to £24 million.
Despite some concerns Fever-Tree could be past its peak, the City continued to pile into the tonics specialist, which has benefited from strong sales at pubs.
The Chelsea-headquartered company floated at 134p a share in November 2014. Its shares earlier were up 158p to 1903p, valuing the company at £2.2 billion.
Chief executive Tim Warrillow said: “The movement towards premium mixers is showing no signs of slowing.”
He added that the company was performing well across the world, singling out the UK as a “standout” winner.
He warned Fever-tree will have to work hard to match an exceptionally strong 2016 Christmas, but said profits would still outstrip the City’s forecasts.
