Shares in Fever Tree up 15pc on record results

Shares soared following strong results.

Shares in Fever Tree soared 15 percent to an all-time high of £39.87, following strong sales for the first six months of 2018.

The jump in shares and smashed forecasts led to the up-market drinks maker being valued at £4.5 billion on Tuesday.

“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,” said Tim Warrillow, the group’s co-founder and chief executive.

Sales in the tonic water have soared in the past year on the back of the growing popularity of gin, in which sales have doubled over the past six years.

Profits for the first six months of 2018 increase by a third to £34 million. Sales were up 45 percent to £104 million.

Fever Tree has signed two new distribution arrangements this year, with Southern Glazer based in the US and with Spain’s Grupo Damm, the maker of Estrella Damm beer.

Rolls has gained over £150 million through share sales since the company’s stock market floatation in 2014.

Shares (LON: FEVR) are trading up 5.64 percent at 3650 pence (1713GMT).

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Safiya focuses on business and political stories for UK Investor Magazine. Her interests include international development, travel and politics.