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(Sharecast News) - Drinks maker The Artisanal Spirits Group said on Wednesday that it was on track to meet FY24 underlying earnings guidance despite "ongoing challenging trading conditions" in certain markets.
Artisanal Spirits expects full-year EBITDA to be roughly £1.0m, representing a roughly £1.5m year-on-year improvement, while full-year revenues were seen broadly flat at £23.5m.
The AIM-listed group stated its "growing profitability" had been delivered through quality product innovation, the evolution of its cask programme, successful expansion into new markets and new brands, as well as a continued focus on efficient cost management.
Looking forward, Artisanal expects to deliver further profitable growth in FY25 and also anticipates seeing continued positive operating cash flows resulting in "a significantly improved net debt position" versus current consensus forecasts through to FY26. FY25 EBITDA was now expected to be at least £1.5m.
As of 1150 GMT, Artisanal Spirits shares were up 5.52% at 39.57p.
Reporting by Iain Gilbert at Sharecast.com
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