Angling Direct PLC (AIM:ANG) climbed over 4% on Wednesday morning after reporting it was on track to hit a £100 million medium-term revenue target following a summer boost.
Revenue climbed by 5.6% to £45.8 million over the first half of the year, the fishing equipment retailer reported on Wednesday.
This was driven by a 7.6% increase over the second quarter as the key summer trading season arrived.
Chief executive Steve Crowe said progress on its UK footprint, customer loyalty scheme and resultant revenue growth provided “further confidence in achieving our medium-term UK revenue target of £100 million”.
Sales across the UK climbed by 6.2% to £43.5 million during the half year and stayed flat in Europe at £2.4 million.
This was after acquisitions and new openings in the UK took the firm’s store portfolio to 52 sites across England and Wales, while a first European shop was opened in Utrecht, the Netherlands.
Angling added momentum had continued into the second half, leaving trading in line to meet full-year market expectations for £88.4 million in revenue and adjusted earnings of £3.15 million.
Shares climbed 4.2% to 37p.