Artisanal Spirits Company achieves milestones in membership and financial growth
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The Artisanal Spirits Company, owner of The Scotch Malt Whisky Society (SMWS), has reported its membership numbers have grown to over 41,000, a 10% increase in the year ended 31 December 2023.
The group has also reported that revenue and adjusted EBITDA for the year 31 December are in line with guidance, with revenue expected to reach the top end of £23 million, representing mid to high single-digit growth.
The news comes ahead of the group’s full year results for 2023 due 27 March 2024.
Following last month’s acquisition of SCN in the US, this transaction has now successfully completed. Sales are set to commence in Q1, and the group is confident that SCN will contribute positively to EBITDA delivery in the current fiscal year (FY24).
SCN received the Independent Bottler of the Year Award at the ‘Icons of Whisky Awards’ in Kentucky, underlining the quality of its whisky. This collaboration enhances ASC’s position in the US market, complementing and adding to the existing SMWS US business.
January trading is in line with expectations, driven by growth in China and contributions from Taiwan. Combined with the ongoing momentum in the US, the group anticipates profitable growth in FY24, building on the success of the previous fiscal year.
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