Fever-Tree hails ‘impressive’ sales growth

17th May, 2018 by Owen Bellwood

Fever-Tree has confirmed it is trading in line with market expectations for 2018 following an “impressive rate of sales growth” last year.

Fever-Tree chairman Bill Roland praised the company’s “impressive rate of sale growth”

In a statement to be delivered this morning (17 May) at the company’s annual general meeting, Bill Ronald, Fever-Tree chairman, said the firm’s performance so far this year has been “encouraging”.

In March, Fever-Tree confirmed its full-year revenue for 2017 grew 66% compared to the previous year.

Ronald said: “2017 was another year of strong growth for Fever-Tree with all regions delivering impressive rate of sales growth and market share gains across both the on and off trade.

“The first four months of 2018 has seen further positive progress, most notably in the UK where, as market leader, our brand strength, pioneering approach to flavours and formats, as well as our relationships with key customers and spirits partners means we are increasingly well positioned as the wider mixer category continues to evolve.”

Ronald also praised the progress Fever-Tree has made in the US, where it is currently transitioning into a new, wholly-owned operation that will come into effect from 1 June.

Fever-Tree has also today appointed Domenico De Lorenzo to its board as a non-executive director of the company and chairman of the audit committee.

Lorenzo joins Fever-Tree with 20 years of experience at SAB Miller, where he worked on strategy and corporate development before reaching the position of chief financial officer.

On the appointment, Ronald said: “I am delighted to welcome Domenico to the board of Fever-Tree.

“As a former FTSE 100 CFO, with significant beverages experience gained over 20 years at SAB Miller, he has valuable experience of building global premium brands and of scaling already significant businesses and I have no doubt he will further strengthen our Board’s capabilities.”

Earlier this year, executive chairman of Conviviality Plc David Adams stepped down from the board of Fever-Tree after his company went into administration.

Fever-Tree has also launched a range of low-calorie mixers this year.

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