Drinks growth

Whisky curator ASC sees positive momentum

Mark Hunter
Mark Hunter: confidence

Whisky curator and Scotch Malt Whisky Society owner The Artisanal Spirits Company has seen the “positive momentum” of the first half continue into the first quarter.

Chairman Mark Hunter said Q1 EBITDA was up by more than £0.5m over last year is slightly ahead of expectations.

In a statement to today’s AGM he says: “With the continued focus on delivering profit, we are actively concentrating our efforts on maintaining a high quality, committed and engaged membership which will underpin sustainable revenue and profit growth over the longer term.

“Group revenue was broadly flat in Q1-24, in line with expected phasing for the period, with SMWS membership also broadly stable. We continue to anticipate full year consensus revenue growth of mid-single digit percentage year on year.

“Single Cask Nation has had a positive start to trading since being acquired by the Group in January 2024. SCN is both complementary and incremental to our existing business, in addition to being strategically well aligned with ASC’s stated ambition to further grow its presence in the USA and take greater advantage of the sizable and growing American Whiskey market.

“SCN has delivered a very solid sales performance on inaugural releases, across both e-commerce and retail in the USA, providing good initial momentum for the business.

“The positive momentum and delivery to date, and expectation of further year on year EBITDA improvement in Q2-24, gives further confidence of the path to profitability.

“Whilst still early in the financial year, the group remains on track to meet full year consensus EBITDA of £1m.”

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