Record annual sales for Angling Direct
Fishing tackle retailer Angling Direct has reported record sales for the year to the end of January.
Revenue was up 7.2 per cent on 2020-2021 to £72.5 million, but online sales were down 4.3 per cent at £33.8m.
The strong performance was achieved despite all of the group’s 42 retail stores, including in Halesowen and Willenhall, being forced to close between February 1 and April 11 last year due to Covid-19 restrictions and only being able to operate on a 'call and collect' basis.
The Company’s strong growth was driven by robust store sales as Covid-19 trading restrictions eased. Total store sales increased 19.9 per cent to £38.7m.
The board expects a return to growth in Europe as a result of the imminent opening of its European distribution centre which continues to progress on plan.
Towards the end of the period, the company launched its new web trading app in the UK, the only one of its kind serving angling customers with initial feedback encouraging.
It expects to report earnings before tax of no less than £5m for the financial year with growth of more than 25 per cent on the previous year.
Chief executive Andy Torrance said: “We are extremely pleased with the company’s trading performance through what has been another challenging year. Despite significant Government restrictions endured during the period, we have delivered against our operational and strategic objectives. We have reported record revenues, opened four new stores and continued to invest in our long-term growth strategy."
