This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/2018/jul/24/fever-trees-value-gin-sales-shares
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Fever-Tree's value fizzes to £4.5bn on back of strong gin sales | Fever-Tree's value fizzes to £4.5bn on back of strong gin sales |
| (6 months later) | |
| Britain’s unquenchable thirst for gin proved the tonic for upmarket mixer maker Fever-Tree, as it reached a record value of £4.5bn on Tuesday after smashing profit forecasts. | Britain’s unquenchable thirst for gin proved the tonic for upmarket mixer maker Fever-Tree, as it reached a record value of £4.5bn on Tuesday after smashing profit forecasts. |
| A surge in its share price meant that the 13-year-old drinks company was worth nearly as much as Royal Mail and outstripped the combined stock market value of WH Smith, Debenhams, the AA and Saga. | A surge in its share price meant that the 13-year-old drinks company was worth nearly as much as Royal Mail and outstripped the combined stock market value of WH Smith, Debenhams, the AA and Saga. |
| Fever-Tree, which produces tonic water and other carbonated mixers, has grown rapidly, thanks in large part to the soaring popularity of premium gin. | Fever-Tree, which produces tonic water and other carbonated mixers, has grown rapidly, thanks in large part to the soaring popularity of premium gin. |
| UK gin sales have doubled over the past six years to hit £1.2bn in the year to the end of September 2017, according to the Wine and Spirit Trade Association, while a YouGov poll found gin was the most beloved spirit in the UK, with 29% of drinkers voting it their favourite. | UK gin sales have doubled over the past six years to hit £1.2bn in the year to the end of September 2017, according to the Wine and Spirit Trade Association, while a YouGov poll found gin was the most beloved spirit in the UK, with 29% of drinkers voting it their favourite. |
| Riding the crest of the gin wave has transformed Fever-Tree into one of the UK’s fastest-growing major companies, making multi-millionaires of co-founders Charles Rolls and Tim Warrilow in the process. | Riding the crest of the gin wave has transformed Fever-Tree into one of the UK’s fastest-growing major companies, making multi-millionaires of co-founders Charles Rolls and Tim Warrilow in the process. |
| The pair founded Fever-Tree in 2005, naming it after the colloquial term for the cinchona tree, the bark of which produces quinine – a key ingredient in tonic water. | The pair founded Fever-Tree in 2005, naming it after the colloquial term for the cinchona tree, the bark of which produces quinine – a key ingredient in tonic water. |
| Rolls has banked more than £150m through share sales since the company’s stock market float in 2014, while Warrilow has sold stock worth £41m. | Rolls has banked more than £150m through share sales since the company’s stock market float in 2014, while Warrilow has sold stock worth £41m. |
| They still own 14% of the company between them, a stake worth nearly £600m, and pocketed payouts of more than £630,000 on Tuesday after the group lifted its dividend by 40%. | They still own 14% of the company between them, a stake worth nearly £600m, and pocketed payouts of more than £630,000 on Tuesday after the group lifted its dividend by 40%. |
| Fever-Tree’s shares jumped by as much as 15% to an all-time high of £39.87, after profits in the first six months of the year rose by a third to £34m, on sales up 45% higher to £104m. | Fever-Tree’s shares jumped by as much as 15% to an all-time high of £39.87, after profits in the first six months of the year rose by a third to £34m, on sales up 45% higher to £104m. |
| The shares settled back before the end of the day to give the company a stock market value of £4.2bn, still more than 30 times what it was worth when it floated four years ago. | The shares settled back before the end of the day to give the company a stock market value of £4.2bn, still more than 30 times what it was worth when it floated four years ago. |
| Fever-Tree said its performance in the UK over the Christmas period was particularly notable, with an “impressive rate of sales growth”, but insisted it still had room to expand. | Fever-Tree said its performance in the UK over the Christmas period was particularly notable, with an “impressive rate of sales growth”, but insisted it still had room to expand. |
| Warrilow said: “Whilst this is a notable achievement, there remains a significant opportunity in front of us across all our regions as Fever-Tree continues to drive the evolution of the mixer category.” | Warrilow said: “Whilst this is a notable achievement, there remains a significant opportunity in front of us across all our regions as Fever-Tree continues to drive the evolution of the mixer category.” |
| Fever-Tree also said it signed two new distribution arrangements – one in the US with wine and spirits distributor Southern Glazer’s Wine and Spirits, and the other with Spain’s Grupo Damm, the maker of Barcelona’s popular beer Estrella Damm. | Fever-Tree also said it signed two new distribution arrangements – one in the US with wine and spirits distributor Southern Glazer’s Wine and Spirits, and the other with Spain’s Grupo Damm, the maker of Barcelona’s popular beer Estrella Damm. |
| Food & drink industry | Food & drink industry |
| news | news |
| Share on Facebook | Share on Facebook |
| Share on Twitter | Share on Twitter |
| Share via Email | Share via Email |
| Share on LinkedIn | Share on LinkedIn |
| Share on Pinterest | Share on Pinterest |
| Share on WhatsApp | Share on WhatsApp |
| Share on Messenger | Share on Messenger |
| Reuse this content | Reuse this content |