Business
Trading Update
Trading Update.
About this update from Artisanal Spirits Company Plc
[{"type":"text","content":"\n \n \n \n 20 July 2022\n \n \n \n \n \n \n \n \n \n The Artisanal Spirits Company plc\n \n \n \n (\"The Artisanal Spirits Company\", \"ASC\", \"the Company\" or \"the Group\")\n \n \n \n \n \n \n Half Year Trading Update\n \n \n \n \n \n \n \n \n \n Six months of further significant progress towards our ambition to double revenue by 2024\n \n \n \n \n \n \n The Artisanal Spirits Company (AIM: ART), the owner of The Scotch Malt Whisky Society (\"SMWS\"), the leading curator and provider of premium single cask Scotch malt whisky and other spirits for sale primarily online to a discerning global membership, announces a trading update for the six months ended 30 June 2022.\n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n ·\n Strong trading with sales up by c.25% to almost £10m (H1 2021: £7.9m), including a stand-out performance in China with revenue up by over 50%\n \n \n \n \n \n ·\n SMWS membership growth (a leading indicator of future revenue growth) increasing by around 24% to over 35,500 (30 June 2021: 28,700). This included robust growth in European members since the launch of the new EU route to market towards the end of FY21\n \n \n \n \n \n ·\n Healthy supply chain situation and good stock availability across markets\n \n \n \n \n \n ·\n Masterton Bond facility progressing on time and on budget ahead of operations beginning in H2-22\n \n \n \n \n \n ·\n On track to deliver full year performance in line with market expectations*\n \n \n \n \n \n ·\n Confident of delivering ambition to double revenue between 2020 and 2024\n \n \n \n \n \n *The Board of The Artisanal Spirits Company considers that current consensus market revenue expectations for the year ending 31 December 2022 are £21.6m (2021 £18.2m).\n \n \n \n \n \n \n David Ridley, Managing Director of ASC, said:\n \n \n \n \n \n \n \n \"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, and confident in our ability to realise our ambition of doubling revenue between 2020 and 2024.\n \n \n \n \n \n \n \n Group sales in the period were very strong, with r...