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Artisanal Spirits Company PLC - Edinburgh, Scotland-based owner of the Scotch Malt Whisky Society - Reports strong trading with sales up 25% to nearly £10 million for six months ended June 30, compared to £7.9 million the year before, including a stand-out performance in China with revenue up by over 50%. Says on track to deliver full year performance in line with expectation and doubled revenue between 2020 and 2024. For 2021, Artisanal Spirits reported £18.2 million in revenue, up 21% from £15.0 million in 2020.
ASC Managing Director David Ridley says: ‘The first half of 2022 was another period of substantial progress from both a strategic and commercial perspective. Thanks to the drive of everyone across the business and the continued support of our loyal SMWS members around the world, we enter the second half well positioned. This outperformance was largely attributable to the solid start to the year in the UK as our largest market, as well as particularly strong growth in Europe, with Brexit-related issues now addressed, and an exceptionally successful recruitment campaign in Australia.’
The company says SMWS membership growth, an indicator of future revenue growth, increased by around 24% to over 35,500 from 28,700 a year ago. ‘This included robust growth in European members since the launch of the new EU route to market towards the end of financial 21,’ it notes.
Current stock price: 56.09 pence, up 3.0%
12-month change: down 25%
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