Interim Results
Financial Highlights:
· Revenue up 77% to £71.9m (H1 2016: £40.6m)
· Gross margin of 54.5% (H1 2016: 54.8%)
· Adjusted EBITDA1 up 102% to £25.2m (H1 2016: £12.4m)
· Strong balance sheet with net cash at period end of £40.5m (H1 2016: £18.6m)
· Diluted EPS up 106% to 16.72 pence (H1 2016: 8.12 pence)
· Interim dividend up 95%% to 3.01 pence per share (H1 2016: 1.54 pence)
Operational Highlights:
· Strong growth across all regions, channels and flavours
· Exceptional growth of 113% in the UK as distribution gains continue to drive performance
· Fever-Tree has driven 99% of the value growth in the entire UK mixer category within retail in the last 12 months and now holds a 30% value share (IRI)
· Expanded distribution of our 150ml can format continues to drive significant incremental growth at UK retail, with new flavours introduced and a listing across the Virgin Atlantic fleet from July 2017
· Continued new retail distribution wins globally; new listings, and increased stores and product ranging within existing retail customers;
· New bottling partner established in Spain to service Southern European markets initially