Fever-Tree boss toasts £29m payout after selling shares

Tim Warrillow, co-founder of drinks brand Fever-Tree has cashed in £29m of shares in the company as values reached a record high.

Warrillow, who co-founded the group with Charles Rolls in 2004, sold on 1.5m shares at £19.25 each, following a 77% surge in half-year revenues.

The sale reduces Warrillow's stake to 5.4% in the business, having previously sold a 3.9% stake in the company, netting £73m back in May.

Fever-Tree makes tonic water, soda water, Madagascan cola, ginger beer and Sicilian lemonade.

In the interim results, Fever-Tree said it was upgrading its forecasts after a 77% spike in revenues to £71.9m, compared to £40.6m in the first half of 2016.

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