Fever-Tree: still fizzing in the US
The premium mixer group is shaping up to be a rare UK success in the world’s largest market, but it’s journey has really only just begun; the Chairman clearly remains confident, acquiring a large number of shares. We were also impressed with progress from an unusual financial services group. Read on here for our thought on this and other news. (Premium)
Fever-Tree: fizzing in the US and margins on the rise Fever-Tree: (AIM:FEVR), the creator of superlative premium mixers, reported decent progress in its trading update for the year to December 2023. With costs under better control, we can also look forward to significantly improved margins in 2024. Group revenue rose 6% to c.£364m, marginally below consensus, with varying degrees of success in its geographical markets. The US market was the standout performer, growing revenue 22% to £117m (24% in constant currency) making it the largest market, ahead of the UK which saw revenue decline 1% to £114.8m. Fever-Tree brand revenue in…