UK's Fevertree beats annual profit expectations

(Reuters) -Fevertree Drinks reported annual profit a touch above market expectations on Tuesday, as the tonic maker capitalised on growing demand for non-alcoholic drinks, but said it expects a "transition year" in 2025 for its U.S. business.

UK-based Fevertree, known for its cocktail mixers, tonic water, ginger beers and flavoured sodas, reported an adjusted core profit of 50.7 million pounds ($65.49 million) for 2024.

That was slightly above analysts' expectations of 50.6 million pounds, as per a company-compiled poll.

The company, which counts the United States as its largest revenue contributor, recently sold an 8.5% stake to U.S.-based beer giant Molson Coors.

Fevertree said it took a 5 million pound charge related to the transition to the Molson Coors partnership. ($1 = 0.7742 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Savio D'Souza)