Subscribe Login

Fevertree’s Annual Profit On Par With Estimates

By Reuters
Fevertree’s Annual Profit On Par With Estimates

Tonic maker Fevertree Drinks has posted an annual profit in line with estimates, helped by a strong performance in the US market, it was reported today.

The British company was also buoyed by increased regional production to offset inflationary pressures caused by elevated glass-making costs.

It has struggled with the rising cost of glass in the UK, which was caused by energy price hikes due to the Russia-Ukraine conflict.

To combat increased production costs, Fevertree raised its prices and boosted glass production in the United States.

The new glass contracts and lower Trans-Atlantic freight rates are expected to help increase profits this year.


The London-based company, which sells most of its products in glass bottles, said on Tuesday that adjusted core profit was at £30.5 million for the year ending 31 December.

This report was in line with analysts’ predictions of £30 million.

The drinks company earlier this year lowered its core profit expectations from £36 million to £30 million based on increased glass production costs.

Fevertree said in a statement that 2024 has been in line with expectations so far, which encouraged the company to reiterate its forecasts for the year.

Separately, the maker of Irn-Bru A.G. Barr reported a pre-tax profit of £51.3 million for the year ending on 28 January.


This beat analysts’ expectations of £48.84 million, helped by price hikes and strong demand for its cocktail mixes and soft drinks.

Earlier this month, A.G. Barr announced that 195 jobs were to be cut in a planned reorganisation of the business.

Read More: Fevertree Drinks Predicts Annual Core Profit Falling Short Of Expectations

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.