Fishing Republic expects revenues of around £9m

Fishing Republic said trading in the final months of the financial year ended 31 December 2017 had been in line with management expectations after successful Black Friday and Christmas online sales campaigns.

A trading update said the board expected revenues for the year to be c. £9.0m, although, as previously stated, the company would record an overall loss for the period.'

It said Chris Griffin, who joined the company as acting CEO (non-board) to conduct a comprehensive appraisal of its operations, had completed his review and, as a result, a number of organisational and operational changes were already underway and included a significant strengthening of the senior management team, with new talent joining the business in some key roles.

In particular, the review focused on Fishing Republic's e-commerce operations and platform in order to accelerate the company's development in this critical area.

Having completed this important project, Griffin has now stepped down from his role as acting CEO and would be leaving the company.

The board thanked him for the valuable work he had completed, especially in assembling an experienced new senior management team, and wished him well in the future.

The board has commenced a recruitment process for a permanent CEO and, in the interim period, chairman James Newman will assume the role of executive chairman and will continue to oversee the operational changes.

At 9:20am: (LON:FISH) Fishing Republic Plc share price was +0.5p at 12.5p