Artisanal Spirits Company sees strong demand for new collections

(Sharecast News) - Artisanal Spirits Company, the whisky seller and owner of The Scotch Malt Whisky Society (SMWS), announced on Monday that recent production innovation is being met with "encouraging demand", causing shares to rise in morning trade. The first two releases of the SMWS's new 'Creators Collection' have been warmly received by society members, with strong trading results.

The Peats Plant Collection has already generated more than £250,000 of sales, with the second Homecoming Collection providing equally as popular. The company noted particularly impressive take-up from SMWS members within the EU, with 75% selling out in this market within 24 hours.

The popularity of the first two collections has given the company confidence ahead of the US market launch this week.

"The level of demand for these initial launches is encouraging and we look forward to continuing to innovate and leveraging the future opportunity open to us to captivate a growing global community of whisky adventurers," said chief executive Andrew Dane.

The company also announced that two recent Scotch whisky distillery releases have been popular, while last year's acquisition of Single Cask Nation has performed better than expected.

"We have entered FY25 on the back of a strong set of FY24 results, on track to deliver further profitable growth in FY25 and beyond, continuing to demonstrate the strength of our pioneering model through product innovation, growing revenue diversification and efficient cost management combining to help achieve our ambition of creating a high quality, highly profitable and cash generative premium global business," Dane said.

Shares were up nearly 7% at 34.2p by 0900 GMT.