Trading Update
Fever-Tree, the world’s leading supplier of premium carbonated mixers, announces a trading update ahead of its Annual General Meeting (“AGM”), which is being held today at 11am BST.
The brand has continued to drive market share gains across its regions and deliver top-line growth in the year to date. We look forward to our key summer trading period, which will include a range of marketing initiatives and activations, and remain comfortable with full year expectations.
· In the UK, Fever-Tree has strengthened its category leading position[1], driven by the performance of our broad portfolio, including our innovation which caters to the growth of Rum, Vodka and other spirit categories, as well as our cocktail mixers, which are gaining popularity, led by our Mojito and Margarita serves.
· In the US, Fever-Tree continues to be the biggest contributor to growth within the carbonated mixer category at retail and we have extended our number one position in the Tonic and Ginger Beer categories[2].
· In Europe, we are seeing good underlying momentum, notably in Italy, France and Denmark. The brand continues to grow ahead of the mixer category, with Ginger Beer performing well and Pink Grapefruit gaining good traction as we expand the portfolio to cater to popular serves, such as the Paloma.
· In the ROW region, the Group expects to deliver strong growth in FY24 following the set-up of our new subsidiary model in Australia.