Top Shelf International (TSI) has delivered what CEO Drew Fairchild said is an “outstanding result” after declaring pro forma unaudited revenue of $20m for the 12-month period ended 30 June 2021.

The result represents pro forma revenue growth of 160 per cent on the prior comparative period, which TSI said equates to the achievement of its pro forma revenue forecast as set out in its November 2020 IPO prospectus.

The growth has been driven by TSI’s branded products, namely Ned Whisky and Grainshaker Vodka seeing a 211 per cent revenue increase from $4m in FY20 to $12.7m in FY21.

Fairchild said: “Achievement of our IPO pro forma revenue forecast is an outstanding result and represents another milestone in our ambition to be Australia’s premier and largest international multi branded spirits company. The revenue growth achieved in the second half of FY21 was particularly pleasing. We are on track and on trend.

“NED Australian Whisky and Grainshaker Hand Made Australian Vodka are two of the fastest growing premium spirit brands in Australia. The FY21 revenue result demonstrates the strength of the NED Whisky brand, as we continued to sell all the whisky we had available while growing the price realised per litre.

“Grainshaker Vodka is going from strength to strength as evidenced by the release of a new 700mL proprietary bottle and recent acceptance of ranging of the brand in both key retail and on-premise venues including the 250 store network of IGA Liquor Victoria and Cellarbrations and Bottle-O 150 store network in Queensland, and an on-premise arrangement across Melbourne hospitality venues operated by Good Company Bar Group.

“Our strategic objectives include the continued investment in whisky and agave, the launch of an Australian Agave brand in early FY22 and continuing to expand our customer network building on the successes of domestic and international growth demonstrated in FY21.”

In addition to distilling and manufacturing its own portfolio of spirit brands, TSI also provides canning, bottling and packaging services to a range of customers with its contract packaging revenue growing 102 per cent from $3.7m in FY20 to $7.3m in FY21.

Andy Young

Andy joined Intermedia as Editor of The Shout in 2015, writing news on a daily basis and also writing features for National Liquor News. Now Managing Editor of both The Shout and Bars and Clubs.

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