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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| The Artisanal Spirits Company Plc | ART | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.50 | 1.23% | 41.00 | 15:06:21 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 40.50 | 40.50 | 41.00 | 41.00 | 40.50 |
| Industry Sector |
|---|
| BEVERAGES |
| Top Posts |
|---|
Posted at 04/8/2023 16:54 by anley Perhaps one day investors will wake up and take a look at this very interesting company.However, we need to read on 18 Sep their interim figures before one hears on 20 what the principal members of the board think. Since going on to AIM in JUNE 2021 the company has never made a real cash profit although it gets nearer as time passes. I am always a small buyer mopping up shares from stale bulls - so it seems. |
Posted at 18/7/2023 07:33 by edmonda "Investing in ultra-premium Scotch’s global growth"Today’s Artisanal Spirits Company (ASC)’s FY2023 H1 trading update reported just over £10m in sales revenue compared with £9.9m a year earlier and included 7% growth in the second quarter. Importantly, there was a 9% increase in membership numbers. In addition, the statement reconfirmed the benefits of the company’s ultra-premium distilled spirits positioning, its focus on Scotch whisky, and the advantage of not only being international but also in control of its supply chain and distribution system. We leave our forecasts unchanged and maintain our opinion that fair value for the shares – almost a pure play on ultra-premium Scotch - is 150p. While the ASC’s H1 sales growth was beneath our full year expectation of 14%, the company was lapping a particularly strong growth in the same period a year earlier when sales advanced by 25%. The company itself remains confident that full year market expectations for sales and adjusted EBITDA will be met. We leave our own forecasts unchanged at £24.7m and £1.3m respectively for these two measures. We draw a positive read-across from Diageo PLC's investor presentation in Edinburgh on 1st June (“Delivering sustainable long-term growth – our vibrant Scotch portfolio.”) Diageo’s central investment messages focused on premium Scotch as a growth category and its value creating qualities relative to other distilled spirits categories. In our view ASC is already a clear beneficiary from these trends and opportunities. We base our 150p fair value/share, which implies a 4.8x FY2023 EV/sales ratio, on a relative valuation comparison with other international distilled spirits companies and luxury providers. Link to report: |
Posted at 26/5/2023 14:39 by anley I agree DICODAVE that EBITDA has fooled ordinary investors for years.I would say that the Board has to turn this business in to a profitable one showing some debt repayment etc. Problem is that ART is all over the world - 300 new members here and there - and this does not make a difference. 150p could well be fair value but I have been there many years ago. What makes the shares 150p is real cash profit and they have the means to do this. I am still a buyer but under 100p. |
Posted at 09/4/2023 08:39 by battlebus2 Nice update in the Mail on Sunday Midas column. Strong hold for those of us that own and a buy for new investors. |
Posted at 28/10/2022 16:17 by melloteam Just to let shareholders and prospective investors know that The Artisanal Spirits Company will be one of the companies presenting at MelloLondon, the two-day investor conference on Wednesday 16th and Thursday 17th November 2022. The event will also feature top quality keynote speakers such as Lord Lee, Katie Potts, Andy Brough, Gervais Williams and many more. You can also expect educational workshops and panel sessions; 50 exhibiting companies; and over 100 company presentations.For more information, click here: Tickets for 1 day are £99 and tickets for 2 days are £159. To get 50% off, use code MMTADVFN50. |
Posted at 08/9/2022 16:39 by battlebus2 Yes very illiquid though stock has been available recently but like you say the presentation has widened the scan of investors. Possibly 75% upside imv if you take a long term view. |
Posted at 08/9/2022 15:44 by dnair28 Very little stock available to buy ahead of the investor presentation. |
Posted at 20/7/2022 08:12 by edmonda #ART Strong 25% sales growth, a further 24% advance in membership numbers and important progress at the Masterton Bond facility were key features of a trading update released by The Artisanal Spirits Company (ASC) today. Furthermore, the company reiterated its ambition to double sales revenue between FY2020 and FY2024. With a focus on the ultra-premium category, a fast-growing global membership base and embedded value in its maturing whisky stocks - £430m at retail - we continue to argue that fair value for the shares is 150p.The Artisanal Spirits Company’s clear and resilient route to growth, which is discussed in more detail in this report, is not reflected in the company’s share price. Putting those strengths to one side though, investors should recognise that the company’s maturing stock of Scotch whisky has an estimated value of £430m. This is more than 10 times the entire market cap of the company. The current share price shows no recognition of the intrinsic value that underpins it. In addition to this, there are strong arguments for the shares to trade higher on revenue growth considerations. We reiterate our 150p per share fair value at which price the shares would trade on 5.5x EV/sales in FY2022 and 4.1x sales in FY2024, based on our estimates. |
Posted at 31/3/2022 10:19 by edmonda David Ridley, Managing Director, and Andrew Dane, Finance Director, discuss their Full Year Results. With an eye to the global possibilities of the business, they talk about the opportunities in the different geographical jurisdictions, as well as expanding on the margin potential that comes with a sensible buying strategy of younger whiskies. Team, culture, and events are also discussed alongside the potential for new brand JW Thomson. |
Posted at 16/9/2021 12:05 by edmonda The Artisanal Spirits Company, through its ownership of the Scotch Malt Whisky Society is well positioned to enjoy sustainable growth. The company boasts growing membership numbers, rising spend per member and a unique approach to sourcing some of the world’s most cherished super-premium malt whiskies. In our view, these qualities are not reflected in the current share price which implies scope for a rerating of the shares as the growth proposition becomes better understood.ASC is already a high gross margin business and appears likely to become more so. The company is confident it can increase gross margins in the next decade from their current year expected 63% level to nearer 70% as the cost of its purchases of whisky stock drop by around £2 per bottle. In our view gross margin strength should offset investor concerns about the current lack of bottom-line profitability. Moreover, EBITDA was positive in H1. SMWS enjoys a substantial asset backing in terms of maturing whisky stock. The company estimates that on 31st August 2021 the realisable retail value of its inventory of in-cask super premium whisky is of the order of £350m. We think investors should note the value of these Scotch whisky assets in the context of the current ASC market capitalisation. We conclude that a fair value for The Artisanal Spirits Company is 150p / share based on relative value analysis covering not only EV/sales, but also comparative gross margins. |
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