Innovative Beverage Group has reported a near quadruple rise in revenue for its third quarter.

Revenue rose by 296% to US$781,600 in the third quarter of 2008, the maker of relaxation beverage 'drank' said today (10 December).

The Nevada and Texas-based group said that it has also been profitable for the last two quarters, although did not supply figures.

"We are definitely bucking current economic trends as sales of drank continue to expand," said CEO Peter Bianchi.

Year-to-date sales were $1.5m said the firm, which claims that a combination of natural ingredients in drank, including melatonin, valerian root and rose hips, aid relaxation and sleep.

"We have acquired many new accounts and the sell-through at our established accounts continues to rise," Bianchi said.