Scotch Malt Whisky Society grows membership

Edinburgh-based Artisanal Spirits Company plc (ASC), owner of The Scotch Malt Whisky Society (SMWS), has announced that SMWS membership growth increased significantly in the year to December 31, 2023.

In a trading update, ASC said: “The group is pleased to announce that SMWS membership growth increased significantly, a leading indicator of future revenue growth, by 10% over the year ended 31 December 2023 and now exceeds 41,000 members, a noteworthy milestone in the group’s 40th anniversary year.

Revenue and adjusted EBITDA for FY23 remain in line with guidance issued on 8 December 2023, with revenue expected to be at the top end of £23m (plus 1%), representing mid to high single digit full year revenue growth, and adjusted EBITDA around break-even.

“January trading remains in line with expectations, led by growth in China and contribution from Taiwan.

“This, combined with continued good momentum in the US, means that the Group remains confident that it can continue to grow profitably with FY24 anticipated to deliver further revenue and EBITDA growth.”

ASC also owns Single Cask Nation and J.G. Thomson.