Fever-Tree Shares Jump as Brand Continues to Drive Market Share Gains

Fever-Tree (LON: FEVR), the premium drink mixer brand, saw its stock rise 3% at Thursday's opening bell, fuelled by continued market share growth.

In a trading update ahead of their AGM at 11 am today, the company highlighted strong performance across all regions.

The company said the brand “has continued to drive market share gains across its regions and deliver topline growth in the year to date.” In addition, Fever-Tree remains comfortable with its full-year expectations.

Fever-Tree solidified its dominance in the UK market with a broad portfolio catering to the rising popularity of Rum, Vodka, and other spirits. Their cocktail mixers, particularly Mojito and Margarita options, are also gaining traction.

The US continues to be a key growth engine for the company, with Fever-Tree maintaining its top spot in both the Tonic and Ginger Beer categories. They're the biggest contributor to the overall growth of the US carbonated mixer market at retail.

Across Europe, Italy, France, and Denmark, Fever-Tree witnessed strong momentum. The brand is expanding its lead over competitors, with Ginger Beer performing well and Pink Grapefruit gaining traction as a mixer for popular cocktails like the Paloma.

The company expects robust growth in the ROW region (Rest of the World) for FY24 following the establishment of their new subsidiary model in Australia.

At the time of writing, Fever-Tree shares are at 1,117p per shares after a 3.1% increase from Wednesday's close.