Drinks break!
It’s a day when several beverage providers (alcoholic and otherwise) have issued results or announcements, with our friends Fevertree Drinks (AIM:FEVR) the toast of the day….as usual. Our previous Blog ‘Extra investment fizz from these small cap beverage stars’ certainly applies to those lucky enough to have invested in Fevertee at IPO.
Fevertree Drinks plc (AIM:FEVR), the world’s leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value issued a trading update for the four months to the end of April 2016. As might have been expected from the punchy valuation the Group has outperformed expectations in the first four months of the year as the premium mixed drink movement continues to grow. The strong performance, alongside a currently favourable foreign exchange environment, has also driven gross margin improvements which now sees results for the full year ending 31 December 2016 materially ahead of market expectations. They probably needed…