Last checked at 22 Jan 2015 07:00
22nd January 2015
Fevertree Drinks plc ("Fever-Tree")
Pre-Close Trading Statement
Fever-Tree, the world's leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value, today announces its pre-close trading update for the year ended 31 December 2014.
The Board is pleased to announce that Fever-Tree continued to perform strongly in the second half of 2014. It is anticipated that sales in the second half will be ahead of the prior year period by 43%, notwithstanding the strong comparatives in the second half of 2013. Full year revenue is expected to be circa £34.7 million, reflecting growth of 49% on 2013.
Sales in the UK continued to perform well in the second half of 2014 and, following a very strong Christmas period, full year revenue is expected to be circa 60% ahead of 2013. UK sales of our Indian tonic water were particularly robust as the trend for consumers seeking a premium quality gin and tonic experience continued.
In the USA, notable sales growth was achieved in the final quarter of the year as a result of strong trading during the Thanksgiving and Christmas periods and full year revenue is expected to be circa 59% ahead of 2013.
Sales in the Rest of Europe also performed well in the second half of 2014 and it is anticipated that full year revenue will be circa 35% ahead of 2013.
Rest of World sales growth in the second half of 2014 was slightly ahead of expectations and full year revenue is expected to be circa 58% ahead of 2013.
Over the period, Fever-Tree's free cash flow generation and balance sheet have remained strong, with the year-end net cash position anticipated to be in line with expectations.
FY14 expectations
Given the strong sales in the final two months of the year, the Board anticipates that the outcome for the full year will be comfortably ahead of its expectations.
Fever-Tree will announce its Preliminary Results on 23 March 2015.
Commenting on today's announcement, Tim Warrillow, CEO of Fever-Tree said:
"We are encouraged to report such a strong trading statement, our first as a public company. Fever-Tree continues to trade well, buoyed by a strong festive period and growth in all of our regions and we look to the future with confidence."
For further information:
Fevertree Drinks plc | c/o FTI +44 (0)20 3727 1000 |
Tim Warrillow, Co-founder and CEO |
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Charles Rolls, Co-founder and Executive Deputy Chairman |
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Andy Branchflower, Finance Director |
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FTI Consulting - Financial PR | +44 (0)20 3727 1000 |
Jonathon Brill | fever-tree@fticonsulting.com |
George Hudson |
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Georgina Goodhew |
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Investec Bank plc - Nominated Adviser and Broker | +44 (0)20 7597 4000 |
Garry Levin |
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Duncan Williamson |
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Matt Lewis |
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David Anderson |
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Notes to Editors:
Fever-Tree is the world's leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value, with distribution to approximately 50 countries worldwide. Based in the UK, the brand was launched in 2005 to provide high quality mixers which could cater to the growing demand for premium spirits, in particular gin, but also increasingly for vodka, rum and whisky. The Company now sells a range of carbonated mixers to hotels, restaurants, bars and cafes ("On Trade") as well as selected retail outlets ("Off Trade"). Approximately 70 per cent of the Group's sales were derived from outside of the UK in financial year 2014, with key overseas markets in the US and Europe.