TIDMART
RNS Number : 4119A
Artisanal Spirits Company PLC (The)
24 May 2023
24 May 2023
The Artisanal Spirits Company plc
("The Artisanal Spirits Company", "ASC" or "the Group")
AGM Statement
Mark Hunter, Chair of 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, will provide the following statement in respect of the
first four months of the year to 30 April 2023 at its Annual
General Meeting ("AGM") being held at 9.00am today:
Continued membership growth and revenue momentum
The Board is pleased to confirm a positive start to the year as
we see another period of revenue and membership growth, with global
membership now over 38,000.
Revenue performance has returned to growth in Q2, following a
broadly flat start to the year, with the trajectory expected to
continue for the remainder of the half year. Membership has
increased +10% year on year as at the end of April 2023,
benefitting in particular from a notably strong performance in
Europe.
Continued progress against strategic objectives
In addition to our supply chain facility Masterton Bond now
being operational, a key strategic objective for the Group is
international growth, we have made significant progress at the
start of this year with further developments in Asia:
Ø Continued signs of recovery in China, following the Covid
impacted slow start to the year
Ø Successful launch of the new Franchise in South Korea,
achieving 300 new members on initial launch in April 2023
Ø Established a new Taiwan subsidiary which is due to launch as
planned in Q3 of this year, replacing the existing franchise
arrangement
Ø New franchise agreement in Malaysia, as previously reported,
and a further new franchise agreement with La Maison du Whisky in
Singapore
Confident in delivering full year growth expectations
With a strong start to Q2, and our forecast delivery of double
digit growth versus Q2 2022, we remain on course to deliver revenue
and EBITDA market consensus expectations for the full year.
Notes
1. The Board of The Artisanal Spirits Company considers that
current consensus market expectations for the year ending 31
December 2023 are revenue of GBP25.2m (2022: GBP21.8m) and EBITDA
of GBP1.1m (2022: Adjusted EBITDA GBP0.4m)
For further enquiries:
The Artisanal Spirits Company plc via Instinctif PR
Andrew Dane, Chief Executive Officer
Billy McCarter, Chief Financial Officer
Liberum Capital Limited - Nominated Adviser and Broker Tel: +44 (0) 20 3100 2222
Clayton Bush
Edward Thomas
Miquela Bezuidenhoudt
Instinctif Partners (Financial PR) Tel: +44 (0)20 7457 2020
Justine Warren
Matthew Smallwood
Joe Quinlan
About The Artisanal Spirits Company
The Artisanal Spirits Company (ASC) are curators of the world's
favourite, single-cask and limited-edition whisky.
Based in Edinburgh, ASC owns The Scotch Malt Whisky Society
(SMWS) which was established in 1983 and currently has a growing
worldwide membership of over 38,000 paying members.
SMWS provides members with inspiring experiences, content and
exclusive access to a vast and unique range of outstanding single
cask Scotch malt whiskies and other craft spirits, with current
stocks sourced from over 100 distilleries in 20 countries and
expertly curated with diligence and care.
Since producing the Society's very first cask, we have created
around 10,000 different whisky releases, producing a constant flow
of unique and exciting one-of-a-kind whiskies.
With proven e-commerce reach and new brands like J.G. Thomson,
ASC is building a portfolio of limited-edition and small-batch
spirits brands for a global movement of discerning consumers -
delivering c.GBP22 million in annual revenues with over 80% of
revenue generated online and over 65% from outside the UK, with a
growing presence in the key global whisky markets including UK,
China, USA and Europe.
ASC has a pioneering business model, a substantial and growing
addressable market presenting a long-term global growth opportunity
and a strong and resilient business primed to deliver growth.
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END
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