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Retail

Angling Direct confident it can tackle post-Brexit supply issues

International sales increased by 98% to £4.66m and now account for 20.9% of the Group's online sales (2018: 13.8%), with shipments going to 49 different countries.

Fishing tackle flogger Angling Direct PLC (LON:ANG) said the company is now well stocked, ready for any supply disruptions following Brexit.

In a trading update for 2018, the company said business has been structured in preparation for Brexit, given the very high percentage of stocks coming from the Far East.

READ Angling Direct on track after bumper Black Friday weekend

Inventory numbers, in general, are good and the business does not foresee any disruption to supply throughout the next few months, regardless of any Brexit outcome.

Revenue in 2018 was around £42mln, up 38.9% year-on-year, with sales growing in-store and well as online.

In-store sales rose 50% to £19.74mln from the year before and were up 6.2% on a like-for-like basis, while online sales rose 30.3% to £22.26mln.

The company said it has entered its new financial year in a strong position to continue its strategy to grow both organically and by acquisition and the board remains confident that Angling Direct will achieve its targets for the year.

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