Fishing company Angling Direct is making big sales
Fishing company Angling Direct is making big sales
Fishermen continue to flock to Britain’s lakes, rivers and coastlines as they shrug off strains on household finances.
In an update to the stock market, fishing tackle and equipment retailer Angling Direct said its turnover in the UK in the six months to the end of July was £40.9 million.
Angling Direct said turnover in the UK in the six months to the end of July was £40.9 million
That was more than 10% higher than in the same period a year earlier, when fishermen left en masse. Online sales were up 8.3% to £16.5m, while sales in the 47 stores, including newly opened stores in Cardiff and Goole, rose 11.3% to £24.4m.
The Norwich company, which is listed on the AIM and is worth around £30 million, is also expanding into Europe, where online sales are up nearly 40% to £2.4 million.
Angling Direct said it is on track to achieve full year revenues of £83m and profits of £2.7m – in line with City expectations. Shares fell 1.3% or 0.5p to 38p.