Fever-Tree’s US partnership supports growth as the UK returns to expansion

Fever-Tree ($FEVR) reported adjusted brand revenue of £183.6 million in the first half, an 8% increase at constant exchange rates. US revenue grew 11% on the same basis as its Molson Coors partnership gained momentum, while the UK returned to growth. Adjusted EBITDA rose 9% to £20.1 million despite a step-up in US marketing spending.

Diversification beyond tonic continued to matter: the wider portfolio grew 13% and now represents almost half of group sales. Management left its full-year expectations unchanged and said the business was well hedged against glass and aluminum costs. A previously announced £60 million buyback is underway, supported by a £68 million cash balance. The update is a confirmation of trading progress and existing capital returns, not a newly announced additional buyback.

Sources:

• Fever-Tree — interim results, RNS / Sharecast