Artisanal Spirits stocked up
Artisanal Spirits Company owns the Scotch Malt Whisky Society (SWMS) and it raised £13.2m after expenses at 112p a share, which was at the bottom of the 112p a share to 121p a share price range.
First quarter sales in 2021 improved from £2.9m to £3.4m, even though venues and events revenues continued to be well down during the period.
There was cask whisky and bottled stock of £21.7m at the end of 2020. That is the main asset in the balance sheet and an independent valuation believes that this stock is worth £9m more than book value - based on an orderly liquidation.
Franchise Brands record half
Franchise Brands says that its Metro Rod business had a record first half. Systems sales grew to £23.8m and the growth has been accelerating up until June, where they were 41% ahead year-on-year.
Willow Pumps is exposed to the hospitality sector and there are signs of recovery with first half invoiced sales 9% higher than in the same period in 2020. The B2C franchised brands ChipsAway, Ovenclean and Barking mad - have added 40 new franchisees. This part of the business was harder hit by the Covid-19 lockdown.
Franchise Brands is on course to at least meet full year pre-tax profit expectations of £6.1m, up from £4.8m in 2020. Interim results will be published on 22 July.
Brighton Pier earnings boost
Brighton Pier Group is acquiring Lightwater Valley Attractions for up to £5m, with £4m upfront. This takes the business into north Yorkshire. Brighton Pier had a tough time in the year to June 2021 and it is expected to make a loss before bouncing back into profit this year.
The family theme park generated EBITDA of £1.1m on revenues of £5.1m in the year to February 2019. There are rides, crazy golf, play areas and entertainment shows. There were steady visitor levels in the decade prior to the Covid-19 pandemic.
Cenkos has upgraded its 2021-22 pre-tax profit forecast from £2.1m to £2.4m, on revenues of £30.7m, and there is a 14% increase in earnings per share to 6.4p.