Fevertree Drinks (AIM:FEVR) – decent results but only the best will satisfy this rating!
The supplier of premium carbonated mixers for alcoholic spirits issued highly positive interim results for the period ending 30 June 2015. Given the Group’s similarly premium valuation (mkt cap £420m) nothing short of excellent will do from this high flying business.
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”). Revenue in the period was up a whopping 62% to £24.1m and operating profit up 81% to £6.78m. Stripping out amortisation, depreciation and exceptional items, adjusted EBITDA was up 68% to £7.2m Diluted earnings per share came in at 4.44p which is just…