Angling Direct PLC - Norfolk, England-based fishing tackle retailer - Revenue in the six months that ended July 31, the first half of the company’s financial year, is £43.3 million, up 11% from £38.9 million a year before. UK revenue is up 10% to £40.9 million from £37.2 million, with retail store sales up 11% and online sales up 8.3%. European online sales were up 40% to £2.4 million from £1.7 million. Angling Direct says like-for-like store sales grew 4.9%. The figure excludes a store in Reading that suffered a fire in February. Angling Direct opens two new stores during the recent half year - one in Cardiff, Wales and one in Goole, Yorkshire - and now trades from 47 stores.
Says it is ‘well placed’ to meet market expectations for financial 2024, which it places at £2.7 million in pre-IFRS 16 earnings before interest, tax, depreciation and amortisation on £83.0 million in revenue. This will compare to £2.2 million in Ebitda on £74.1 million in revenue in financial 2023. IFRS 16 is an accounting rule governing the treatment of lease obligations.
Angling Direct will issue its complete half-year results on October 24.
Current stock price: 38.75 pence
12-month change: up 19%
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