Angling Direct revenue jumps on online sales, store reopenings

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Fishing equipment retailer Angling Direct reported a climb in revenue, led by stronger online sales and the reopening of shuttered retail stores owing to pandemic-related restrictions.

For the six months ended 31 July 2021, revenue grew 19.5% to £37.4 million year-on-year.

Online sales were up 3.2% against a very strong comparable period, in particular the final two months of H1 2021.

All retail stores were closed at the beginning of the period (1 February) to 12 April.

Looking ahead, the company said it was 'confident that FY 2022 EBITDA will be not less than FY2021 of £4.0m and £5.7m, even taking into account the considerably reduced government support.'

The company will announce its half year results for the six months ended 31 July 2021 on 13 October 2021.