TIDMART

RNS Number : 5726F

Artisanal Spirits Company PLC (The)

19 July 2021

19 July 2021

The Artisanal Spirits Company plc

("The Artisanal Spirits Company", "ASC" or the "Company")

Half Year Trading Update

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, today announces a trading update for the six months ended 30 June 2021.

 
 GBP'm                   6 months      6 months     % change 
                         to 30 June    to 30 June 
                            2021          2020 
 UK online sales            1.7           1.3         28% 
 UK venue & events 
  sales                     0.6           0.7        (17%) 
 International sales        5.7           4.6         24% 
 Total sales                7.9           6.6         20% 
 
 
 '000s                     30 June 2021   31 December   % change 
                                              2020 
 UK members                   13.4           13.7         (2%) 
 International members        15.3           14.6          4% 
 Total members                28.7           28.3          1% 
 

Highlights:

   --      Successful admission to AIM ("Admission") in June 2021, raising gross proceeds of GBP26m 

-- GBP1m investment in spirit stock post Admission, continuing to build on the vast and unique range of outstanding single cask Scotch malt whiskies

-- Total sales growth of 20% to GBP7.9m (H120: GBP6.6m), slightly ahead of Management expectations at the time of IPO

-- Strong international sales growth, particularly in the US with performance boosted by the suspension of US tariffs on imports of Scotch whisky in March 2021. As announced on 17 June 2021, the Board expects this to result in an uplift on the profits of the Company

-- Recovery in UK venue & events sales following phased reopening in Q2. Excluding UK venues & events, sales grew by 25%

-- 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

-- Demand from European members remains robust, despite the ongoing challenges Brexit continues to pose to EU exports

-- Positive outlook for the second half, notwithstanding the ongoing pandemic uncertainty over future restrictions and impacts on currency, with Scotch malt whisky remaining in demand, and well resourced to execute on growth strategy

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 strengthend 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."

The information contained within this announcement is deemed to constitute inside information for the purposes of the UK Market Abuse Regulation.

For further enquiries:

 
 The Artisanal Spirits Company plc            via Alma PR 
  David Ridley, Managing Director 
  Andrew Dane, Finance Director 
 Singer Capital Markets (Nominated Adviser    Tel: +44 (0) 20 7496 3000 
  and Sole Broker) 
  Sandy Fraser 
  Rachel Hayes 
  George Tzimas 
  Asha Chotai 
 Alma PR (Financial PR)                       Tel: +44 (0)20 3405 0205 
  Josh Royston                                 artisanalspirits@almapr.co.uk 
  David Ison 
  Harriet Jackson 
  Molly Gretton 
 

About The Artisanal Spirits Company

Artisanal Spirits Company (ASC) is based in Edinburgh. It owns The Scotch Malt Whisky Society (SMWS) which was established in 1983 and currently has a growing worldwide membership of 28,000 paying subscribers.

Harnessing the experience of some of the most knowledgeable stewards in the industry, 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, sourced from over 100 distilleries in 20 countries and expertly curated with diligence and care. In 2020 over 85% of Group revenue was generated online, whilst 9% was generated through SMWS's four UK venues.

Having initially proven its premium experience model in the UK, SMWS is now able to offer its unrivalled breadth of distinguished flavours to an expanding international market, with 69% of 2020 sales from outside the UK. SMWS has a growing presence in the key international whisky markets of UK, China, USA and Europe.

ASC is building a portfolio of premium brands that bring together some of the world's best producers with a growing movement of discerning consumers by curating unrivalled collections of craft spirits.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTFLFEEDIIRLIL

(END) Dow Jones Newswires

July 19, 2021 02:00 ET (06:00 GMT)

The Artisanal Spirits (LSE:ART)
Gráfica de Acción Histórica
De Sep 2021 a Oct 2021 Haga Click aquí para más Gráficas The Artisanal Spirits.
The Artisanal Spirits (LSE:ART)
Gráfica de Acción Histórica
De Oct 2020 a Oct 2021 Haga Click aquí para más Gráficas The Artisanal Spirits.