Latest news with #ScotchMaltWhiskySociety
The Herald Scotland
18-07-2025
- Business
- The Herald Scotland
Shares dive in Scotch whisky firm amid 'volatile' conditions
Artisanal said its performance had been 'resilient' against the backdrop of volatility in the first half of the year, posting an underlying loss of £1m that was 'broadly in line the prior year loss'. Revenue 'marginally decreased', with the fall largely attributed to a reduction of around £1m in rephased US shipments arising from the company's tariff mitigation plan. The US has slapped a baseline of tariff of 10% on most goods entering the country from the UK. Artisanal said it remained focused on achieving results for the full year in line with current market expectations that forecast revenue of £26m, up from £23.6m, and underlying profits of £1.5m (up from £1.1m). The company reported that membership retention of the Scotch Malt Whisky Society 'remains positive, at around 70%, although there was a marginal decline in overall membership versus December 2024' when it was stood at 42,700. I love Scotland but returning from holiday made my heart sink Scots legal giant cites 'resilience and ambition' as latest results revealed 'Confusion and uncertainty': Scotch whisky rocked by global upheaval Shares plunge in UK housebuilder after 'shocking update' It said in a statement to the stock market: 'During the period the US market was impacted by the recent tariff uncertainty. However, we have mitigated this in part through pre-emptive action to take greater control of our US operations from January 2025, ensuring we deploy the right long-term route to market. 'As a result, we have implemented a new approach to US shipments, effective from Q3-25, which should ensure that future planned shipments are completed via the optimal cost route thereby minimising any tariff impact. Whilst challenging trading conditions persist, we will navigate these through ongoing revenue diversification, realising the value of our asset base and continued focus on driving efficiencies within our cost base, remaining focussed on achieving EBITDA (earnings before interest, tax, depreciation, and amortisation) in line with expectations.' Artisanal noted that it was progressing plans to open a new franchise for the Scotch Malt Whisky Society in India as early as the second half of this year, following the recent opening of a branch in Vietnam. The Scotch whisky industry has great hopes of a major breakthrough in India, one of the world's biggest spirits markets, after the UK signed a free trade agreement with the South Asian country. Artisanal chief executive Andrew Dane said: 'The group has once again produced a respectable and resilient performance and we continue to make good progress, despite the persistence of volatile global trading conditions. ASC continues to benefit from an excellent and valuable asset base. 'The actions we have, and continue to take, to further diversify our revenue streams are proving effective as we navigate external macro factors - many of which are largely outside our control - to the best of our ability. 'The launch of Artisan Casks, our new luxury private cask programme, provides another incremental income stream for the group. 'We remain confident in the future opportunity for ASC and continue to build the business for the medium to longer term with entry into exciting new markets such as Vietnam, as well as progressing our plans for a future launch in India. This, together with a continued focus on rigorous cost efficiencies, stand us in good stead to deliver profitable growth in line with current market expectations.' Shares in the company closed down 8%, or 4p, at 45.5p.
Scotsman
17-07-2025
- Business
- Scotsman
Artisanal Spirits Company latest: Scotch Malt Whisky Society owner ‘resilient' in face of tariff turmoil
'We continue to make good progress, despite the persistence of volatile global trading conditions' – Andrew Dane, CEO Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Scotch Malt Whisky Society owner Artisanal Spirits Company has flagged a 'respectable and resilient' first-half performance as it battles tariff uncertainty. The Edinburgh-based group said its underlying result for the period was 'broadly in line' with the prior year loss of £1 million, despite ongoing tough global trading conditions. Advertisement Hide Ad Advertisement Hide Ad In a trading update to investors, it noted that revenue had marginally decreased while it implemented a tariff mitigation plan. The Scotch Malt Whisky Society venue on Bath Street, Glasgow. Pic: Peter Sandground Membership retention at the Scotch Malt Whisky Society (SMWS) is said to have remained positive, at around 70 per cent, although there was a marginal decline in overall membership compared with the end of December. The group, which listed on the London Stock Exchange in 2021, said it continued to make good progress with cask sales, with an incremental £1m or so of revenue in the first half supported by the 'exciting opportunity' in the coming months from the recent launch of Artisan Cask - a luxury private cask programme. Artisanal added: 'During the period, the US market was impacted by the recent tariff uncertainty. However, we have mitigated this in part through pre-emptive action to take greater control of our US operations from January 2025, ensuring we deploy the right long-term route to market. As a result, we have implemented a new approach to US shipments, which should ensure that future planned shipments are completed via the optimal cost route thereby minimising any tariff impact.' Advertisement Hide Ad Advertisement Hide Ad Chief executive Andrew Dane said: 'The group has once again produced a respectable and resilient performance and we continue to make good progress, despite the persistence of volatile global trading conditions. ASC continues to benefit from an excellent and valuable asset base. 'The actions we have, and continue to take, to further diversify our revenue streams are proving effective as we navigate external macro factors - many of which are largely outside our control - to the best of our ability.
Scotsman
10-06-2025
- Entertainment
- Scotsman
The 18 best Scotch whiskies according to the International Wine and Spirit Competition 2025 - including Glenfiddich and Bowmore
The 2025 International Wine and Spirit Competition (IWSC) medals have been awarded, with 10 Scotch whiskies given a coveted double gold accolade. Spirits at the awards are blind tasted by an expert and independent panel of judges selected by the organiser. Bronze, Silver, Gold and Double Gold medals are awarded according to a consensus reached by the judging panel. This year 18 Scotch whisky brands took home a double gold medal including single cask bottlings from the Scotch Malt Whisky Society and a special release from Ardbeg. Picture: OurWhisky Foundation/Jo Hanley Here we take a look at all the double gold medal winners. Single Malts up to 12 years old category Glenmorangie Lasanta Single Malts between 13 and 20 years old Aberfeldy 16 Years Old Aberfeldy Madeira Cask 16 Years Old Balblair 15 Year Old Bowmore 19-Year Old Pinot Noir Cask Finish Glenfiddich 14 Year Old Bourbon Barrel Reserve Glengoyne Highland Single Malt Scotch Whisky - Mizunara Oak - Aged 16 Years The Glenlivet 15 Year Old French Oak Reserve Single Malts non age statement Loch Lomond Remarkable Copper Single Malt Scotch Whisky Single Malts 21 years old and over Scotch Malt Whisky Society 12.87 - Velvety smooth with a hint of spice (independent) A'Glac Charran 27 Year Old Glenfiddich 29 Year Old Grand Yozakura Scapa 21 Year Old Ardbeg Seann Chreag Ardbeg Vintage_Y2K 23 Years Old Scotch Blends 21 years old and over Royal Salute 25 Year Old The Treasured Blend Royal Salute 30 Year Old Key to the Kingdom Over 100 Scotch whiskies were awarded a gold, silver, bronze or double gold medal at this year's tasting judging. The International Wine and Spirits Competition was created by Anton Massel in 1969 in London with the first official competition taking place in 1970. Competition entries now regularly exceed 12,000 and cover, as the name suggests, wines and spirits. You can find out more and see the full list at the IWSC website here.
Scotsman
10-06-2025
- Entertainment
- Scotsman
The 18 best Scotch whiskies according to the International Wine and Spirit Competition 2025 - including Glenfiddich and Bowmore
The 2025 International Wine and Spirit Competition (IWSC) medals have been awarded, with 10 Scotch whiskies given a coveted double gold accolade. Spirits at the awards are blind tasted by an expert and independent panel of judges selected by the organiser. Bronze, Silver, Gold and Double Gold medals are awarded according to a consensus reached by the judging panel. This year 18 Scotch whisky brands took home a double gold medal including single cask bottlings from the Scotch Malt Whisky Society and a special release from Ardbeg. Picture: OurWhisky Foundation/Jo Hanley Here we take a look at all the double gold medal winners. Single Malts up to 12 years old category Glenmorangie Lasanta Single Malts between 13 and 20 years old Aberfeldy 16 Years Old Aberfeldy Madeira Cask 16 Years Old Balblair 15 Year Old Bowmore 19-Year Old Pinot Noir Cask Finish Glenfiddich 14 Year Old Bourbon Barrel Reserve Glengoyne Highland Single Malt Scotch Whisky - Mizunara Oak - Aged 16 Years The Glenlivet 15 Year Old French Oak Reserve Single Malts non age statement Loch Lomond Remarkable Copper Single Malt Scotch Whisky Single Malts 21 years old and over Scotch Malt Whisky Society 12.87 - Velvety smooth with a hint of spice (independent) A'Glac Charran 27 Year Old Glenfiddich 29 Year Old Grand Yozakura Scapa 21 Year Old Ardbeg Seann Chreag Ardbeg Vintage_Y2K 23 Years Old Scotch Blends 21 years old and over Royal Salute 25 Year Old The Treasured Blend Royal Salute 30 Year Old Key to the Kingdom Over 100 Scotch whiskies were awarded a gold, silver, bronze or double gold medal at this year's tasting judging. The International Wine and Spirits Competition was created by Anton Massel in 1969 in London with the first official competition taking place in 1970. Competition entries now regularly exceed 12,000 and cover, as the name suggests, wines and spirits. You can find out more and see the full list at the IWSC website here.
Scotsman
30-05-2025
- Entertainment
- Scotsman
Japanese ambassador delights in Irn Bru and 'fantastic' haggis on trip to Scotland
The Japanese ambassador to the UK has been enjoying some Scottish produce on his first trip to Edinburgh. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... They are iconic Scottish products that couldn't be more different - but they both found a fan in the form of the Japanese ambassador to the UK. Hiroshi Suzuki arriving in Edinburgh on Wednesday after announcing his first visit to Scotland last week. And Mr Suzuki wasted no time in taking to social media to document his trip, where he has been delighted to try haggis with a dram, as well as tucking into a Tunnocks tea cake for breakfast. Advertisement Hide Ad Advertisement Hide Ad Hiroshi Suzuki trying Irn Bru next to a cardboard cutout of Robbie Williams, who is playing Murrayfield this weekend. | Hiroshi Suzuki Mr Suzuki has used social media to share details of his travels, often posing with a Paddington bear soft toy. He announced his arrival in Edinburgh with a snap of himself and Paddington with Edinburgh Castle in the background. He then delighted his 124,800 followers on X by posting a video of himself eating haggis and sipping on a dram at the Scotch Malt Whisky Society. In the video, Mr Suzuki gives Scotland's national dish his seal of approval by saying: 'I'm enjoying haggis - o h, it's fantastic.' Mr Suzuki then posted a video of him trying Irn Bru, next to a cardboard cut out of Robbie Williams, who is playing at Murrayfield this weekend. He said of our 'other' national drink: 'Irn Bru, what else can beat this, it's great!' As well as trying some of the country's most loved produce and visiting Adam Smith House, Mr Suzuki also met Alison Johnstone, the presiding officer of the Scottish Parliament, where he 'enjoyed fruitful discussions on a wide range of topics, including economic and cultural ties between Japan and Scotland'. Advertisement Hide Ad Advertisement Hide Ad The ambassador also attended a cross-party group meeting to deepen his understanding of the Scottish Government's initiatives for the 2025 Expo in Japan.
