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Artisanal Spirits Co PLC on Wednesday reported a narrower gross profit and deeper loss for the first half of 2025, but said it remains on track to meet full-year earnings expectations. The Edinburgh, Scotland-based distiller of single-cask and limited-edition whiskies said revenue fell 4.1% year-on-year to £9.7 million in the six months to June 30 from £10.1 million. The decline reflected a roughly £1 million reduction in phased US shipments, as the group implemented a tariff mitigation plan and faced weaker US consumer confidence. Loss for the period widened to £3.6 million from £3.1 million year-on-year. Gross profit declined to £5.7 million from £6.4 million, while gross margin slipped to 59% from 63%. Adjusted earnings before interest, tax, depreciation and amortisation were flat at a loss of £1.0 million. Reported Ebitda loss widened to £1.5 million from £1.0 million, and pretax loss increased to £3.6 million from £3.1 million. Despite the tougher conditions, the company pointed to strong performance outside the US, with underlying revenue up 6% year-on-year and venue revenue climbing 6%. Membership numbers rose 3% and retention held firm at 70%. Artisanal Spirits highlighted new growth initiatives, including the launch of its luxury Artisan Casks private cask programme and entry into new markets such as India, Vietnam, and Brazil. The company also signed a UK partnership with American Express, which attracted nearly 1,000 new members. Net debt increased to £29.5 million from £27.0 million year-on-year, largely due to shipment timing. ‘With momentum building in the second half, particularly across Europe and China, and US shipments now resuming momentum, we remain on track to deliver full-year Ebitda in line with market expectations,’ said Chief Executive Officer Andrew Dane. Market consensus expects full-year revenue of £26.0 million and Ebitda of £1.5 million, up from £23.6 million and £1.1 million in 2024. Shares in Artisanal Spirits lost 8.1% to 40.00 pence in London on Wednesday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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