Senior Expects to Beat 2022 Market Profit Forecasts on Strong Flexonics Unit

Artisanal Spirits 2022 Revenue to Beat Market Forecasts; Names Andrew Dane as CEO

By Ian Walker

Artisanal Spirits Co. mentioned Tuesday that income final yr grew 20% and is anticipated to be forward of market forecasts.

The proprietor of the Scotch Malt Whisky Society–a supplier of whisky and different spirits–said it has appointed Finance Director Andrew Dane as chief govt officer with quick impact and that Billy McCarter, previously group monetary controller, will turn into interim finance director till a everlasting substitute has been discovered.

Managing Director David Ridley is stepping down from his function, Artisanal Spirits mentioned.

The firm supplied a income consensus of 21.6 million kilos ($26.7 million). Revenue for 2021 was GBP18.2 million. It additionally mentioned the corporate is on monitor to double income to GBP30 million between 2020 and 2024, whereas persevering with to enhance working margins.

The firm mentioned that its world membership grew by 12% to round 37,000 members on the year-end and that retention remained broadly per the prior yr stage of 77%.

“Looking ahead, the investments we have now made in 2022 will improve the enterprise this yr and past,” Chairman Mark Hunter mentioned.

“With whisky shares to fulfill demand into the following decade already acquired and investment-driven money burn having already peaked as we pivot in the direction of sustained profitability, we’re effectively positioned to proceed increasing our enterprise, profit from the rising appreciation globally of small batch whisky and the important thing underlying tendencies of comfort, premiumization and digitalization that are set to proceed to drive shopper habits,” he mentioned.

Write to Ian Walker at [email protected]