The Artisanal Spirits Company (ASC) tumbled more than 20% as the Scotch malt whisky supplier warned that sluggish sales in China and of a 50th-anniversary cask would mean revenues undershooting targets.
Revenue growth in 2023 will still be in' high single digits', the AIM-listed company said, and hit around £23 million but earlier guidance had been for £25m.
ASC also now only expects to break even [adjusted EBITDA] for this year.
Andrew Dane, chief executive, said while sales in China sales and of the new cask were disappointing, “the remainder of the business has performed well and grown in line with expectations.”
Shares fell 12p to 45.5p.