The Artisanal Spirits Company owns the Scotch Malt Whisky Society (SWMS), which has 28,300 members around the world. The placing price was at the bottom of the 112p a share to 121p a share price range.
Online sales continue to grow, offsetting the understandably weak performance from venues. International sales grew despite disruption from the UK leaving the EU. The second quarter should benefit from the removal of US tariffs – the additional cost was absorbed by the company.
Management believes that the company has the ability to more than double revenues to up to £40m in 2026. The craft spirits sector is estimated to be growing at 25% a year.
Existing shareholders raised £10.6m in the placing. Shareholders who own 1,000 shares and are SWMS members will receive discounted annual...