Artisanal Spirits Company reports 20% growth in sales

The Artisanal Spirits Company (ASC), the owner of the Scotch Malt Whisky Society (SMWS), has reported a 20% growth in total sales to £7.9 million at the time of its Initial Public Offering (IPO) last month.

Artisanal Spirits Company reports 20% growth in sales

In its half-year trading update published today, the firm has reported that “strong” growth in its international sales, in particular the US, following the suspension of US tariffs on imports of Scotch whisky in March. Sales within the UK grew by 25% following the phased reopening in quarter two.

Admission to the Alternative Investment Market in June made the company £26m, with £1m invested into spirit stock post soon after.



The firm also reported continued strong international member growth and, following a downturn in UK member numbers during the lockdowns, four consecutive months of UK member growth to period end, with Q2 UK recruitment more than double that of the corresponding period in the prior year.

It added that demand from European members remains robust, despite the ongoing challenges Brexit continues to pose to EU exports.

In June, Scottish Financial News reported that growth capital investor BGF completed a £7 million investment in ASC as part of its admission to trading on AIM.

David Ridley, executive managing director of the company, said: “The first half of the year has certainly been an exciting one for the business. We have strengthened our senior management team, achieved a successful IPO that will enable us to provide our loyal and discerning members with even greater whisky experiences, and trading momentum has continued from the previous year.

“We are pleased that demand is robust both in the UK and internationally, and it is heartening to see our members returning to our venues with such enthusiasm. While Brexit continues to present logistical challenges for exports to the EU, we are working through these issues. We welcome the long-term suspension of US tariffs which took effect last month, not only does this provide an economic benefit to the business but also enables us to progress our strategic objectives in the USA with confidence.

“We look forward to presenting our maiden set of interim results in September, and to continued strategic progress in the second half and beyond.”

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