22nd Jan 2015 09:05
LONDON (Alliance News) - Fevertree Drinks PLC Thursday said it expects to report a 49% rise in full-year revenue, with the overall outcome expected to be "comfortably ahead" of its expectations, bolstered by strong sales in the final two months of 2014.
Fevertree, which supplies premium mixers for alcoholic spirits, said it expects revenue for 2014 to grow to by about GBP34.7 million, with sales in the second half to be ahead of the prior year period by 43% "notwithstanding the strong comparatives in the second half of 2013".
In its first trading statement since listing on AIM in November last year, Fevertree said UK sales performed well in the second half, with full-year revenue expected to be about 60% ahead of 2013, after a "very strong" Christmas.
"UK sales of our Indian tonic water were particularly robust as the trend for consumers seeking a premium quality gin and tonic experience continued," Fevertree said.
Sales in the US were boosted by the Thanksgiving and Christmas periods, with full-year US revenue expected to grow by about 59%.
Sales in the rest of Europe also performed "well" in the second half of 2014, meaning that Fevertree expects full-year European revenue to be about 35% ahead of 2013.
Rest of world sales growth in the second half of 2014 was "slightly ahead of expectations", with full-year revenue expected to be circa 58% ahead of 2013.
Fevertree shares were up 7.0% at 212.91 pence on Thursday. The stock is trading above the 134 pence per share pricing of its initial public offering, giving it a current market capitalisation of about GBP245 million.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Fevertree