Sales and profits rise for Angling Direct
Angling Direct, which has shops at Halesowen and Willenhall, saw sales rise 21 per cent to £32.1 million in the six months to the end of July.
The specialist fishing tackle and equipment retailer has grown during the Covid-19 pandemic despite temporary closure of its shops for 12 weeks.
Sales across all channels from June 15 when the shops reopened are up 95 per cent.
Pr-tax profit for the six months has risen by 250 per cent to £1.4m
In the UK revenue is up 62 per cent to £14.8m and website visitors are ahead 54 per cent to 3.7 million.
Executive chairman Martyn Page said: "The group's first-half performance demonstrates considerable resilience, with strong growth achieved through our online business at a time when Covid-19 has posed significant challenges.
"The like-for-like sale growth of our store network since reopening has also been hugely encouraging. Importantly our focus on our core UK and European territories with a refined trading strategy, as well as further enhancements made to customer experience, has lifted margins and driven greater profitability.
"Whilst the broader economic outlook and the risks associated with the ongoing pandemic remain uncertain over the coming months, based on the group's performance so far and its strong start to the second half of the financial year, the board believes it is on track to meet market expectations for the current financial year. With a strong balance sheet we are also well positioned to withstand any further challenges that may arise."
