Fishing tackle and equipment retailer Angling Direct plc (LON:ANG) reeled in record sales in the first half of the year, driven by strong growth both online and in-store.
Revenue soared by 56% to £21.9mln in the six months ended July 31, which was ahead of management expectations.
Stripping out the impact of new store openings and the launch of a German website, like-for-like sales rose 4.2% year-on-year.
READ: Angling Direct lands Preston-based angling supplies business
That was despite the hit to sales from the ‘Beast from the East’ and the recent very hot weather, neither of which lend themselves to fishing, Angling said.
More European websites are slated to be launched later this year, while more bricks-and-mortar stores in popular fishing locations across the UK are also set to open.
The Guildford store is due to open its doors at the end of this month, taking the total to 23, with more to follow shortly after.
“The company's performance for the first half of the year is extremely positive and, despite the adverse winter weather earlier in the year and the very hot summer, it is pleasing to deliver like-for-like sales for the period up 4.2%,” said chief executive Darren Bailey.
“We have demonstrated that our strategy to operate both online and retail stores works coherently together in niche markets. We remain focused on our strategy of consolidation, as well as the rollout of new e-commerce platforms in Europe, in order to continue to deliver value and growth.”
The full set of interim results will be published on October 8.
Shares leapt 15% higher at the opening bell to 96p.