Angling Direct boosted by strong online sales
Angling Direct has said it expects to report a 27% increase in revenue to £67.6 million for the year to 31 January.
In a trading update ahead of its full year results, the specialist fishing tackle and equipment retailer said the performance was driven by strong online sales which grew by 40% to £35.3 million. While UK online sales climbed by 62%, those in Germany, France and Netherlands saw an uplift of 35%.
Total store sales, which included call & collect, increased by 16% to £32.3 million. However, like-for-like store sales fell by 8% due to Covid-19 lockdowns.
The company said it now expects to report a pre IFRS-16 EBITDA of at least £3.8 million for the year compared to a loss of £0.5 million in the prior year.
Andy Torrance, chief executive of Angling Direct, said: “I am pleased with the performance that we have delivered through FY21, with good progress made on all fronts, both operationally and strategically, and look forward to reopening our stores in April, in line with the government’s roadmap as announced on 22 February 2021.
“The actions taken in FY21 ensure that the Company is well positioned to withstand future challenges and I firmly believe that when we are through the other side of the pandemic, the company’s market leading omnichannel offering and scale will enable us to continue on our growth trajectory in the UK and internationally, as angling grows in popularity.”