Angling Direct delivers uplift in annual sales and profit
Fishing tackle retailer Angling Direct has posted an uplift in annual sales and profit after delivering record UK sales.
In the year to 31 January 2025, group revenue increased by 11.9% to £91.3 million as adjusted pre-tax profit rose by 23.6% to £2 million.
Sales were particularly strong in the UK, growing by 11.7% to £86.4 million. Sales in Europe were also up, rising by 14.1% to £4.9 million.
Meanwhile, adjusted EBITDA climbed by 20% to £3.4 million which was slightly ahead of consensus market expectations.
Steve Crowe, chief executive of Angling Direct, said: “Angling Direct delivered a stellar performance in FY25, both against a strong comparator and ongoing negative pressure on consumer confidence and cost headwinds.
“Against this backdrop, we are pleased to report EBITDA for the year slightly ahead of recently upgraded consensus market expectations.”
Angling Direct has also made a good start to the new financial year with first quarter sales up 17.1% following growth in the UK and Europe. The retailer has recently opened a new shop in Chester as part of its ongoing UK store rollout strategy.
Looking ahead, Crowe said: “We remain vigilant of the external headwinds facing the sector, including inflationary pressures, having absorbed significant additional costs in terms of national living wage inflation and employers national insurance increases.
“We are also monitoring carefully the evolving global tariff landscape, albeit we do not currently expect there to be any significant direct impact on the group from these measures.”
He added: “Delivering on our medium-term targets is at the centre of everything we do. I am pleased with the progress in our first year since setting out our growth plans last May and remain confident in achieving our goals.”
