24th Jul 2018 09:11
LONDON (Alliance News) - Carbonated drinks supplier Fevertree Drinks PLC on Tuesday posted an increased profit in the first half of the year, as a result of strong UK sales, promoting a 40% improvement to its dividend.
Shares in Fevertree were trading up 9.4% at 3,784.70 pence on Tuesday.
In the first half of 2018 Fevertree posted a pretax profit of GBP32.6 million, up 35% from GBP24.1 million the year before.
Revenue was GBP104.2 million, a 45% increase from GBP71.9 million in the first half of 2017. A total of GBP58.0 million of this was from its UK territory, a 73% improvement over its GBP33.6 million revenue the year before.
Fevertree will pay an interim dividend of 4.22 pence, up 40% from 3.01p in 2017.
The company switched from a US agent to a wholly-owned operation on June 1. Fever-Tree US now directly manages its own marketing, sales and distribution.
"We have successfully launched our wholly owned US operations with a talented team recruited and now in place," said Fevertree Chief Executive Tim Warrillow.
"Given the strong performance in the first half of the year, the board anticipates that the outcome for the full year will be comfortably ahead of its expectations," Warrillow added.
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