Thursday 22 August 2019

Angling Direct reports strong store sales amid expansion

The fishing chain has just opened a new site in Leeds.

Angling Direct has continued its expansion push across the UK (PA)
Angling Direct has continued its expansion push across the UK (PA)

By Alys Key, PA City Reporter

Sales growth at Angling Direct was driven by in-store shoppers during the first half, as the fishing retailer continues its expansion push.

Revenue for the six months to July 31 jumped 21% to £26.52 million, against what the company called a “challenging period for the wider UK retail sector”.

Retail store sales increased by 41% to £14 million, boosted both by the opening of five new stores and 15% like-for-like sales growth.

Online sales were up 10% to £11.9 million, but third-party websites declined by 47% to £620,000 as the group shifted to focus on selling through its own web platform.

The company, which has acted as a consolidator in the fragmented fishing retail market, said its expansion plans were on track after it opened a new store near Leeds over the weekend.

Chief executive Darren Bailey said: “We have demonstrated that our strategy to operate both online and in-store works effectively together in niche markets. We remain focused on our strategy of consolidation, as well as on the roll-out of new e-commerce platforms in Europe, in order to continue to deliver value and growth.

“We are excited to have opened a new store in Leeds, which is situated within a very popular angling region and will offer products for all disciplines of angling. The store houses a full-size Pole alley, a new offering designed to deliver an immersive retail experience.”

Shares in the group were up 2.4% in early trading on Monday.

PA Media

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