Fever-Tree Drinks PLC has released its FY23 pre-close trading update, reporting a doubling of EBITDA in the second half of the year despite a challenging trading environment. The company achieved a 6% year-on-year revenue growth to approximately £364 million, with notable progress in the US market, where revenue grew by 22% (24% at constant currency). In the UK, the brand continued to gain market share, particularly in the On-Trade, and maintained its leadership position in the total UK mixer category. The US market also saw strong volume and revenue growth, with the brand extending its number one value share in both the Tonic and Ginger Beer categories. In Europe, the brand revenue grew by 6% (4% at constant currency), despite subdued consumer sentiment in some markets. The Rest of the World region experienced a decline in revenue, primarily due to the transition to a new subsidiary set-up in Australia. Fever-Tree remains optimistic about its long-term growth prospects in these markets. For FY24, the company expects good growth and reiterates its guidance of 10% revenue growth for the Fever-Tree brand, with a focus on improving gross margin and delivering a significant improvement in Adjusted EBITDA margin. Fever-Tree CEO, Tim Warrillow, expressed confidence in the brand's performance and growth potential in 2024, despite the challenges faced in some regions in 2023.