Whisky curator, the Artisanal Spirits Company, saw an uptick in sales to the US but lower trade cask sales as it posted a slight reduction in half year losses.
Total revenue for the period came in 5% down at £9.2 million from £9.7m in the prior year, primarily due to a fall in trade cask sales to £1.3m from £2.3m.
However, branded business revenue increased by 7% to £7.9m, driven by growth in the US market which saw an 18% reported revenue increase.
An ebitda loss of £1.4m was a slight improvement from a £1.5m loss in the prior year, and cash generation from branded businesses rose by £1.5m.
Global membership grew by 3% to 39,700, with strong recruitment in China, the US, and the UK, and net debt stood at £34m as of 30 June 2026.
The outlook for the full year remains dependent on trade cask sales, with the board expecting to meet market expectations if these transactions complete as anticipated.
Chief executive Andrew Dane said: “Our Branded businesses are growing, reflecting the progress and health of the underlying business, up 7% in H126 and around 10% year to date to the end of August 2026.
“Our US business is now on the footing we wanted, with depletions up 8%. Our cost and cash discipline is working.
“Our members are buying more often and growing in number in every region.
“Looking ahead, our focus remains on further developing the personalisation experience and leveraging AI tools to enhance the data we hold.
“Membership is the engine of our business, and we are encouraged by the momentum we are seeing. Whilst trade cask sales are more weighted to the H2 this year, we are focused on delivering these at the right price.”
Speaking to Daily Business, he said the key target was getting the branded business into profitability. He noted some “positive” news on US tariffs as the company is due a refund.
On the wider dispute over English whisky being granted protected status, he said he was only interested in the quality of the product.
“95% of what we sell is Scotch, but we also handle Welsh, Irish, French and Japanese whiseky. We are about what tastes good. We support anyone producing great whisky.”
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