REG - Artisanal Spirits Co - Trading Update

Artisanal SpiritsAnnouncement

20/01/2022 07:05

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RNS Number : 0168Z  Artisanal Spirits Company PLC (The)  20 January 2022

20 January 2022

The Artisanal Spirits Company plc

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

Full 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 an unaudited trading update for the
financial year ended 31 December 2021 ("FY 2021").

 

 Highlights:

 

·      Company expects to report full year revenue of approximately
£18m (FY 2020: £15m) comfortably ahead of market expectations, with both UK
and international sales growing by around 20%.

·      15% global membership growth (a leading indicator of future
revenue growth) in second half of the year (>33,000 at year end up from
28,700 at 30 June). UK and International members grew by approximately 20% and
15% respectively over the year as a whole:

·      Continued recovery in UK venue & events sales following
phased reopening in Q2 and robust performance through to year end despite the
emergence of the Omicron variant during Q4, demonstrating the advantages of
ASC's multi-channel business model. UK venue sales in the second half
surpassed those in the entirety of FY 2020.

·      Successful admission to AIM ("Admission") in June 2021, raising
gross proceeds of £26m with decisive early progress made against strategic
growth objectives outlined at IPO:

·     Significant investment in matured spirit stock and cask wood;

·     10-year lease signed on a new supply chain facility;

·     Launched new brand J.G. Thomson; and

·     Increased equity interests in joint venture entities in China and
Japan.

·      Strengthened the Group's leadership team through a number of key
strategic hires.

·      Establishment of a warehouse in mainland Europe, enabling the
Group to mitigate Brexit-related logistical challenges and reduce shipping and
delivery times to EU members.

·      Record number of top awards (for both SMWS and J.G. Thomson) from
some of the most prestigious competitions in the global whisky calendar.

·      Positive outlook moving into FY 2022 notwithstanding the inherent
unpredictability of Covid-19, with strong member growth in the second half
underpinning the Board's confidence that the new financial year will see ASC
deliver further meaningful revenue growth.

 

 

David Ridley, Executive Managing Director of the Company, said:

 

"2021 was a transformational year for the Artisanal Spirits Company in many
ways. Sales growth was consistently strong, particularly in the context of
ongoing industry-wide pressures as a consequence of Covid-19 and Brexit. The
exciting step-change in our development created by our admission to trading on
AIM in June has given us the strategic focus and access to funds to enable us
to take our SMWS member offering to the next level, launching J.G. Thomson and
exploring opportunities to expand the Group's portfolio of brands. The early
fruits of this step-change can be seen in the material acceleration in overall
membership growth in the second half.

 

We have created a special culture at the Artisanal Spirits Company and I would
like to take this opportunity to thank our teams for their hard work and
resilience throughout the year, overcoming challenges, driving us forward and
helping us continue to be successful."

 

 

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 and Sole Broker)  Tel: +44 (0) 20 7496 3000

 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

 Lily Soares-Smith

 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 over 33,000 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 global 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. In November 2021 it launched
J.G. Thomson & Co. Inspired by its namesake, which was originally a wine
and spirits merchant in Leith, Scotland, in the 1700s, J.G. Thomson is a new,
adventurous blender, creating small batch blended malt whiskies, blended grain
whiskies, rum and gin. J.G. Thomson products are available
from www.jgthomson.com (http://www.jgthomson.com/) as well as a range of
leading whisky shops, bars and restaurants.

 

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