Fever-Tree’s share price jumps more than eight per cent on sparkling rise in full-year expectations
Shares in mixer maker Fever-Tree have risen more than eight per cent this morning after the group said its full-year results will be "materially ahead of current market expectations".
In a brief trading update, the tonic water, lemonade and ginger beer producer said the group has continued to "perform strongly" in the second half of the year.
Fever-Tree's performance in the UK, its largest market, has been particularly sparkling as "strong new distribution gains have combined with a continued rate of sales growth".
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The group's share price was up 8.4 per cent in morning trading to 1,050p at the time of writing.
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Chief executive Tim Warrillow and Charles Rolls started Fever-Tree in 2005, seeing a gap in the market after a boom in craft gin and spirits but little change in the mixer market. It now supplies premium alcohol mixers such as Sicilian lemonade and ginger beer to retailers, hotels, and bars in more than 50 countries.
This time last year, the Aim-listed group similarly raised its full-year expectations after "encouraging sales" in the UK and overseas.