Angling Direct hails strong first half
Angling Direct has reported an increase in first half revenue and profit after a strong performance in its stores and online.
In the six months to 31 July, group revenue rose by 17% to £53.6 million as adjusted pre-tax profit increased by 34.7% to £3 million.
Total UK like-for-like sales growth reached 14.2% which the retailer attributed to the strength of its omnichannel proposition, loyalty scheme and growth in customer reach.
During the period, sales in Angling Direct’s UK stores rose by 15.4% and by 9.8% on a like-for-like basis. UK online sales grew 21.2%.
Subscribe to TRBMeanwhile, sales in Europe rose by 5.1% to £2.5 million.
Steve Crowe, chief executive of Angling Direct, said: “We are pleased to report that the momentum generated in FY25 has continued into the first half, with strong in-store and online sales providing confidence that the group will deliver a FY26 trading performance ahead of market expectations.
“This performance has been underpinned by the success of our loyalty and repeat purchase membership club, MyAD, which increased 21% to over 496k subscribers, driving engagement with existing and new customers across our stores and online platforms.”
Giving an update on more current trading, Angling Direct said group revenues increased by 10.8% in August and September as growth moderated due to softer consumer demand and the impact of a lack of summer rainfall on fisheries.
Crowe said: “Our continued UK store roll out strategy alongside the development of the UK digital business further extends our competitive moat.
“This provides the board with confidence that the solid foundations that we have established will continue to position us well to take advantage of the growth opportunities available in the UK, at the same time enabling us to retain optionality over a presence in Europe which will significantly grow our addressable market and support our longer term growth ambitions.”
