Fever-Tree has posted a sharp rise in annual sales and profits, helped by gin drinking during the World Cup and last year's royal wedding.

The premium mixer maker recorded a pre-tax profit rise of 34 per cent to £75.6 million in 2018, while revenue jumped 40% to £237.4m.

Fever-Tree said it was boosted by last summer's heatwave, as well as the World Cup and the marriage of Harry and Meghan.

More gin was sold during the three months of the summer in 2018 than the summers of 2014 and 2015 combined, the firm added, with the category now worth £1.9 billion in the UK.

Fever-Tree specialises in selling mixers such as tonic water, ginger beer and Sicilian lemonade.

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Founder and chief executive Tim Warrillow said: "2018 was a significant year for Fever-Tree.

"In the UK, we strengthened our position as the leading mixer brand in the Off Trade."

In the UK, its fastest growing market, sales were up 53% and there was 21% growth in the US.

The Herald: Uber is credited as a major driving force behind the "gig economy", although it is disputing the assertion. (Picture AP Photo/Eric Risberg) (PicturevAP Photo/Eric Risberg, File)

Ride-hailing service Uber said it has acquired its Middle East competitor Careem for $3.1 billion (£2.3bn), making it the largest-ever technology purchase in the region.

The deal will make Careem a wholly-owned subsidiary of Uber, operating as an independent company under the Careem brand and led by its original founders.

Dubai-based Careem is among the Middle East's most successful start-ups.

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Careem is popular across the Middle East in part because it introduced the option for riders to pay by cash rather than just credit card.

Plumbing supplier Ferguson has said its full-year trading profit is set to be at the lower end of market expectations, sending shares down nine per cent.

John Martin, chief executive of Ferguson, said: "After a strong revenue performance in the first half, our growth rate has moderated recently in line with conditions in our markets.

"While we still expect to generate further revenue growth in the second half, we have revised our estimates of group organic revenue growth to between 3% and 5%.

"Consequently, we expect trading profit for the full year to be towards the lower end of the range of analysts' expectations."