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The Artisanal Spirits Company

Serving-up-a-strong-growth-outlook-in-2022-29-March-2022.pdf

Full year FY2021 results for The Artisanal’s Spirits Company (ASC) delivered both sales revenue growth and member numbers ahead of market expectations. Moreover, a sharp rise in membership towards the end of FY2021 gave the company the “best possible start” to the current year and raises our confidence in the group’s ability to deliver another year of around 20% higher net sales revenue. On that basis, ASC’s ratings still appear at an attractive level, and we reiterate our 150p fair value for the shares.

Serving up a strong growth outlook in 2022