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Angling Direct on track after bumper Black Friday weekend

The good sales trend has continued into December and the fishing equipment specialist expects to meet full year expectations

Angler
Angling Direct is on a major expansion push

Angling Direct plc (LON:ANG) saw record sales over the Black Friday weekend, which helped revenues overall rise by almost a third in the four months to November.

The good sales trend has continued into December and the fishing equipment specialist expects to meet full-year expectations.

Over the Black Friday period in November sales rose 56% to £1.3mln out of a total of £14.6mln over the entire four-month period.

In-store sales rose by 7.2% to £5mln, while online sales were 24% better at £6.7mln helped by a new German-language website.

Dedicated websites for the French and Benelux markets are also scheduled to open by the end of the year.

November on its own meanwhile saw a 19% rise in revenues to £3.35mln.

New stores in 2020

The AIM-listed group raised £20mln in October when it promised to open twenty new stores by 2020.

Angling Direct is likely to have been helped by the demise of rival, Fishing Republic, which went into administration earlier this month.

Darren Bailey, Angling’s chief executive, said the retail trading environment remained difficult but it had taken ‘great encouragement’ from its recent performance.

In early trading, Angling Direct shares were up 3.7% at 85p.

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Quick facts: Angling Direct PLC

Price: 63.5 GBX

AIM:ANG
Market: AIM
Market Cap: £41.03 m
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