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Scottish whisky business Artisanal Spirits Company has reported this morning that its revenues for 2023 to be at the top end of its expectations as membership numbers increased significantly.
The group, which owns the Scotch Malt Whisky Society, now has more than 41,000 members after growing by more than 10% last year, which it called a “noteworthy milestone” in its 40th anniversary year.
ASC added in the trading update that revenue and adjusted EBITDA remained in line with guidance, with sales to be at the top end of £23m, representing mid to high single-digit full-year growth, and adjusted EBITDA to be around break even.
January trading also remained in line with expectations, led by growth in China and contribution from Taiwan.
“This, combined with continued good momentum in the US, means that the group remains confident that it can continue to grow profitably with FY24 anticipated to deliver further revenue and EBITDA growth,” the statement said.
ASC is scheduled to publish its full-year results for 2023 on 27 March.
Morning update
The FTSE 100 started the new week down 0.1% to 7,704.59pts.
It’s a quiet start for fmcg, with early risers including Glanbia, up 3.6% to €16.48, and C&C Group, up 1.7% to 156p.
McBride and Bakkavor are among the losers so far, down 1.9% to 75.8p and 1.7% to 94p respectively.
This week in the City
The calendar is looking empty this week, with only a handful of updates scheduled.
International retailers Carrefour and Wal-Mart will report quarterly numbers tomorrow.
On Wednesday, ingredients group Tate & Lyle will publish a Q3 update
Nestlé and Danone will both reveal full-year results on Thursday, with updates in the US from Beyond Meat, Hormel and Keurig-Dr Pepper.
The closely watched GfK consumer confidence index is out on Friday morning.
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