Soft drinks specialist Fentimans has toasted a 35% leap in turnover after sales of its bottled brews soared overseas and in 海角视频 grocery markets.
The Hexham business was relaunched more than 20 years ago by founder Eldon Robson through a traditional ginger beer recipe owned by his family, yet now boasts a heady mix of more than 40 soft drinks, mixers, syrups, craft beers and pre-mixed alcoholic drinks.
Having tapped into the massively popular premium mixer and grown-up soft drinks markets, the firm last year went through the first year of a major brand relaunch, with a new identity and packaging.
Now accounts have been published which show the relaunch has been a success, with growth in the 海角视频 grocery retail sector, trade and independent channels driving up sales by 35% to £40.4m. Operating profit also grew by 60% to top £1m and export sales were £15.6m, accounting for 39% of total sales and also representing a 41% increase over 2017.
The firm also said its average monthly headcount increased from 55 to 61, “reflecting the continuing investment in our team”.
Its popular flavours of Ginger Beer, Rose Lemonade and Mediterranean Orange Tonic have now been joined by Apple & Blackberry, Pink Rhubarb Tonic and Oriental Yuzu Tonic Water. During the years its Sparking Raspberry won a highly commended award for best soft drink at The Grocer’s New Products Awards.
Mr Robson pointed out in the firm’s accounts that its gross profit only increased 14% to £9.7m after being impacted by the soft drinks industry levy.
In a review of the business, he said: “Working capital requirements have increased with the significant growth of our business in 2018.
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“Inventory has seen a significant increase from £3.3m to £7.9m as we held inventory ahead of planned plant shutdowns, Brexit contingency planning and gear up for increased sales in 2019.
“2018 saw the first full year of our major brand relaunch, with the roll out of a new brand identity and packaging across the soft drinks and mixers portfolio.
“Gains from the development have met expectations as the company continues to see rewards of the investment made.
“In addition, we launched further products in both our soft drinks and mixers categories, seeing significant penetration in the 海角视频 grocery retail sector.
He added: “We continue to drive the business growth plan considering normal operation and commercial activities as well as exceptional factors such as Brexit.”