Revenue increases for Angling Direct
Angling Direct plc, with shops in Willenhall, Birmingham and Halesowen, has revealed UK revenue increased by 10.1 per cent to £40.9 million in the six months to July 31.
Store and online sales were both up, it said, as well as European online sales. Revenue across the board was up to £43.3m.
The business also opened two new stores, in Cardiff and Goole, and now operates a total of 47 stores across the UK.
Steve Crowe, CEO of Angling Direct, said: “We remain focused on gaining market share both in the UK and Europe whilst continuing to proactively manage all aspects of the Group’s operations in order to improve gross and operating margins and mitigate cost inflation.
"The business has continued to demonstrate both its resilience and the capacity to grow in the UK, despite the cost of living pressures facing consumers.
"Whilst the trading environment in Europe is challenging, with more intense price competition persisting in the market, there remains a significant growth opportunity for Angling Direct in Europe.
"Overall the Board is confident that a combination of continuing UK sales momentum with balancing European growth and profitability means that the Group is well placed to deliver revenue and EBITDA in line with full year market expectations.”
