Shares in the Artisanal Spirits Company PLC (AIM:ART) rose 5% in early trading after the company confirmed it is on track to meet its full-year 2024 EBITDA forecast of £1m, a £1.5m improvement on the prior year.
The whisky specialist also announced a £500,000 strategic investment to take full operational control of its US business from January 2025, aiming to capitalise on growth in the world’s largest ultra-premium whisky market.
ASC reported a 5% rise in membership to 42,000, with strong UK growth supported by referral programmes.
Despite challenging conditions, the group has reduced debt and expects further profitability in 2025 and 2026, driven by cash flow improvements and efficiency measures. The US investment is expected to generate savings from its second year.
In the first hour of trading, the stock was up 2.07p at 39.57p.