Home Business NewsBusinessBusiness Growth News Angling Direct reports strong profits

Angling Direct reports strong profits

by LLB Reporter
12th Aug 19 12:52 pm

Angling Direct has seen strong sales growth in the first half driven by in-store shoppers and the company’s expansion.

In the six months to 31 July revenue soared by 21% to £26.52m despite the company saying there has been a “challenging period for the wider UK retail sector.”

Retail sales rocketed by 41% to £14m as a result of five new store openings, with a 15% like-for-like sales growth.

Third party online sales dropped by 47% to £620,000 as the group shifted their focus on selling through their own website.

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.”

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