Fever Tree proves to be just the tonic as profits soar by 100 per cent

Profits at drinks firm Fever-Tree fizzed up more than 100 per cent last year, helped by the continued rise in the popularity of gin in the UK.
Fever-Tree founders Tim Warrillow and Charles Rolls can pyramidFever-Tree founders Tim Warrillow and Charles Rolls can pyramid
Fever-Tree founders Tim Warrillow and Charles Rolls can pyramid

The firm said pre-tax profits rose to £34.3 million in the year to December 31, a 104 per cent increase.

Sales also rocketed by 73 per cent to £102.2 million.

Fever-Tree, which specialises in selling mixers such as ginger beer and Sicilian lemonade, said its performance in the UK was boosted by the “premium gin and tonic movement”, which continues to “gather momentum”.

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The UK saw sales growth of 118 per cent, helped by strong sales over the Christmas period.

Boss Tim Warrillow described the year as “exceptional”.

He said: “2016 has been another exceptional year of growth for Fever-Tree, with strong results achieved across all regions, channels and flavours, emphasising the global appeal of the Fever-Tree brand.”

Fever-Tree has secured new deals to supply Asda in the UK, Target in the US and supermarket Rewe in Germany, while it has also expanded the distribution of tonic water with British Airways across its entire fleet.

The group also announced that Charles Rolls will transition from executive deputy chairman to a non-executive role in May.

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The company has announced a number of high-profile distribution deals with supermarkets in recent months.

Most recently it announced a tie-up with Leeds-based supermarket chain Asda to distribute tonics more than 400 stores across the country.

Established in 2005 , Fever-Tree now sells a range of premium tonic waters and mixers to 58 overseas markets.