Scotch in demand
Artisanal Spirits Co enjoys solid sales growth
The Artisanal Spirits Company, the owner of The Scotch Malt Whisky Society, said sales continue to grow, with little sign of any tail-off as the market for premium products remains buoyant.
Sales were up by c.25% to almost £10m in the half year to the end of June (H1 2021: £7.9m), including a stand-out performance in China with revenue up by over 50%.
SMWS membership growth, a leading indicator of future revenue growth, increased by about 24% to more than 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 .
The company said it is on track to deliver full year performance in line with market expectations and is confident of doubling revenue between 2020 and 2024.
David Ridley, managing director, said: “The first half of 2022 was another period of substantial progress from both a strategic and commercial perspective.
“We enter the second half well positioned, and confident in our ability to realise our ambition of doubling revenue between 2020 and 2024.”
Speaking to Daily Business, he said the company had addressed Brexit red tape issues which restricted its ability to ship bottles to directly to consumers. Bottle are now distributed via a dedicated facility in Germany.
“We now get bottles to customers just as quickly. It added cost, but we are talking pennies and we cover that cost by growth. It is no longer a problem.”