Preliminary results
Financial highlights:
· Revenue up 66% to £170.2m (2016: £102.2m)
· Gross profit margin of 53.5% (2016: 55.2%)
· Adjusted EBITDA* of £58.7m (2016: £35.8m)
· Robust balance sheet with net cash at year end of £50.9m (2016: £26.9m)
· Diluted EPS of 39.15 pence (2016: 23.70 pence)
· Final dividend of 7.64 pence per share recommended to shareholders, bringing total dividend to 10.65 pence per share (2016: 6.25 pence per share)
* Adjusted EBITDA is earnings before interest, tax, depreciation, amortisation, share based payment charges and finance costs.
Operational highlights:
· Continued strong growth across all regions, channels, flavours and formats with the UK once again delivering an exceptional performance
· Ended 2017 as the number one mixer brand by value in the UK off-trade channel1
· Further new distribution wins globally across both On and Off Trade channels; new listings, and increased stores and product ranging within existing customers;
· Establishment of wholly owned North American operation and appointment of North American CEO
· Continued focus on innovation with appointment of Innovation Director and successful launch of Limited Edition Clementine Tonic in UK over the Christmas period
· Named the no.1 best-selling and no.1 trending tonic water in Drinks International's survey of world's top 250 bars for the fourth year running