Top story:
Fever-Tree shares are up 5% in early trading after the company saw its sales recover some momentum in the second half of last year.
Total revenue rose 4% to £364m on a constant currency basis, following a strong second half in which sales were up 7%.
Its earnings before interest, taxes, depreciation, and amortisation were up 66% to £50.7m, broadly in line with analysts’ expectations. Fever-Tree said this was due to operational improvements such as the localisation of production.
A poor performance in the first six months of the year had seen Fever-Tree’s share price fall 10% after it downgraded its revenue growth expectation from 10% to between 4% and 5% for the year.
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Morning update:
AG Barr has confirmed profits rose 15.8% last year, led by a “standout performance” from Rubicon.
The Irn-Bru maker, which also owns Boost and Funkin, posted a 5.1% increase in revenue to £420.4m for the year to 25 January.
Irn-Bru also delivered strong revenue growth and is now one of the top five carbonates in the UK, according to the Grocer’s Top Products survey.
AG Barr released the figures in an earlier trading updaten in January.
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