The Artisanal Spirits Company PLC (AIM:ART) said “good progress” is being made at the group’s new supply chain facility at Masterton Bond, near Glasgow.
According to a statement by the curator of limited-edition whisky, the site is on schedule and budget after completion of the construction phase.
Now, it has moved onto the commission phase and has commenced initial bottling operations.
Artisanal said the plan is for phased development over the coming months, with the anticipation that Masterton Bond will be fully operational by the first quarter of 2023, as planned.
Once operational, it will provide production, cask storage, fulfilment and distribution of its whisky, and is expected to improve operating margins by roughly 2%.
"I am delighted to report that we continue to make good progress with our new Masterton Bond supply chain facility which commenced initial production operations this week,” said managing director David Ridley.
“This is an exciting milestone in ASC's continued development which we are confident will deliver tangible operating margin upside of around 2% in 2023.”
The company also announced that it will be presenting at the MelloLondon investor conference in London Tomorrow.
Ridley and Andrew Dane, the groups finance director, will present and take questions from delegates at the event.