Annual sales grow for Angling Direct
Fishing tackle chain Angling Direct saw sales rise 2.2 per cent to £74.1 million in the year to the end of January.
The business, which has 46 stores including in Halesowen and Willenhall, will announce its final results on May 16.
UK sales were up 1.6 per cent to £71m with stores contributing £41.3m - up 6.8 per cent.
Online sales fell three per cent to £32.8m with the UK performance down 4.8 per cent to £29.6m.
The overall sales growth has been achieved despite significant consumer headwinds across all of the company’s key markets including inflation and cost of living pressures.
The group has just opened a new store in Cardiff, its first one outside of England.
Following the successful opening of its European distribution centre in March last year European revenue saw a return to growth as sales increased by 18.4% per cent.
Chief executive Andy Torrance said: "The group will therefore continue to invest, where prudent to do so, in order to drive market share growth, leveraging its strong balance sheet, to ensure it is best placed competitively to benefit when consumer confidence returns.
"Ahead of the start of the 2023 fishing season, the board re-affirms its view that the company is well-placed to capitalise on the opportunities ahead and gain market share both within the UK and Europe whilst remaining vigilant as to continuing challenges for consumers in the macro-environment.”
