The Artisanal Spirits Company PLC (AIM:ART) said it is ‘insulated’ against inflationary pressures and consumer price sensitivity as sales grew by a quarter in the six months to 30 June,
Sales were up roughly 25% for the owner of Scotch Malt Whisky Society, which sells other whisky and spirits.
Much of the performance was boosted by a strong performance in China, where sales were up by almost more than 50%.
“Against a backdrop of inflationary pressures and consumer price sensitivity, we are insulated somewhat as we have stock cover at almost 100% through to end of 2028 and beyond and we offer a broad range of price points to members,” said chairman Mark Hunter.
According to managing director David Ridley, the group is on track to deliver full-year performance in line with market expectations and is confident of delivering double revenue between 2020 and 2024.
Artisanal Spirits also said it remained alert to changes in the external environment but to date, it has not experienced any material supply chain or production issues.