ANGLING DIRECT, the top fishing tackle chain, has revealed a record revenue of £30.2 million thanks to its key store opening last year.
Angling Direct issued a pre-close trading update for the 12 months to January 31, 2018, ahead of the publication of its full financial results in May.
The 30.2 million revenue was ahead of expectations – up about 44 per cent in the 12 months compared with the same period the previous year of £21million.
Continued investment in the Company’s e-commerce platform and operations resulted in a 54 per increase of direct sales year on year, backed by several recent months of over one million visits to their own website.
Retail sales in Angling Direct’s stores were up 40 per cent year-on-year, and like for like sales in-stores were up by 10 per cent.
Angling Direct is also benefiting from regular custom from outside of the UK and last year generated revenue from over 40 countries from internet sales.
It expects to invest more resources this year into increasing these sales, including introducing country specific websites.
A statement said: “Directors expect the company to continue to increase its 6 per cent share of the UK angling retail market through both organic and acquired growth.
“The big tackle retailer Fosters of Birmingham was a major acquisition, and three new stores are due to open by 2019, adding to the current 21.
“We currently sell over 21,500 fishing tackle products, including capital items, consumables, luggage and clothing. It also owns and sells fishing tackle products under its own brand ‘Advanta’, which was launched in 2016.
“The new store openings and sustained online growth offers the group a very positive outlook despite higher labour costs.”
Angling Direct also took over North West Angling Centre in Hindley, Greater Manchester and Tacklesaver, formally known as Trev’s of Wilmslow in Handforth, Cheshire, in 2017.
Arch-rivals Fishing Republic announced in November they had a sales slump with October showing a like-for-like store sales decline of 13 per cent.
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