Angling Direct reports revenue increase of 56%
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The UK’s largest fishing tackle retailer has seen its revenue for the first six months of the year increase by 56% to £21.94m compared to £14.08m in the same period last year.
Angling Direct’s performance is ahead of management expectations and reflects strong store and e-commerce sales which both rose by 60%. The company’s expanding store network saw its sales increase from £6.21m in the first half of 2017 to £9.93m this year, while online sales rose to £11.69m (2017: £7.33m).
The number of unique users visiting the company’s website has also increased by 30%. In June Angling Direct launched its German website and says that other European sites will follow later in the year.
Chief Executive Officer, Darren Bailey, added that the company is on track to open further stores in popular fishing locations across the UK. “The imminent opening of the Guildford outlet at the end of this month will bring our total number of stores to 23, with more to follow.
“The company’s performance for the first half of the year is extremely positive and, despite adverse weather earlier in the year and the very hot summer, it is pleasing to deliver like-for-like sales for the period that are up 4.2%.
“We have demonstrated that our strategy to operate both online and retail stores works coherently together in niche markets. We remain focused on our strategy of consolidation as well as the roll-out of e-commerce platforms in Europe, in order to deliver value and growth.”