Record annual sales for Angling Direct

Fishing tackle group Angling Direct achieved record sales in the year to the end of January.

Angling Direct in Halesowen
Angling Direct in Halesowen

The business, which has shops in Halesowen and Willenhall, enjoyed a 7.2 per cent rise in revenue to £72.5 million which was also 36.3 per cent up on the pre-pandemic year of 2019-2020. Pre-tax profit was up 50.6 per cent to £4m.

Online sales were down 4.3 per cent on 2020-2021 at £33.8m but 33.9 per cent ahead of the pre-pandemic year.

Four new stores opened in the year in Cheltenham, Ipswich, Redditch and Southampton in strategically located, high density fishing catchments, bringing the store estate total to 42

Chief executive Andy Torrance said: “The last 12 months have marked a period of significant progress for Angling Direct, both online and in store, in the UK as well as continuing our focus on key European territories. I am proud that despite all the headwinds our teams faced last year, we were able to continue to progress on all of our key strategic and operational priorities.

"Post year end, we were pleased to also see the opening of our new in-region fulfilment centre in Venlo, The Netherlands. We see a significant opportunity to continue to grow our market share through establishing our presence in Europe and this new facility will help to accelerate delivery of our strategic plans in a more efficient manner and ideally position us to become Europe’s first choice omni-channel fishing tackle destination for all anglers, regardless of their experience or ability."

Trading in the new financial year to date has seen growth broadly in line with expectations

Current market expectations for the year to January 31,2023 are for revenue of £82m.

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