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Angling Direct opens 30th UK store after robust summer trading

Turnover over the summer period rose 31% with August a record month of sales for the company

Angling Direct PLC -

UK fishing tackle and equipment retailer Angling Direct PLC (LON:ANG) opened its thirtieth UK store in Milton Keynes on Saturday after a strong summer of trading.

The company said the new store, which has a 6,500 sq ft. display area, is located in a “hugely popular” fishing area off the A5 at the major retail warehouse area of Winterhill.

The store is the only fishing tackle "destination store" of its kind in the area, Angling Direct added.

“Milton Keynes is a very popular angling region and the new store offers products for all disciplines of angling whilst also housing a full size Pole alley,” said Angling Direct chief executive Darren Bailey.

"As we seek to cater for all anglers across the UK with a new and modern retail offering, we are continuing to strategically expand our store footprint, as well as enhance our online offering in terms of products, experience and education in order to help raise the profile of angling.”

The group also updated investors on trading, saying it achieved 13.3% like-for-like sales growth in-store and 26.7% online during the summer period from 1 June to 31 August.

August marked a record sales month for the firm, generating £5.5mln of turnover with online sales up 40% on last year.

Turnover over the three-month period advanced 31% and Angling Direct has kept up the momentum into September.

"The summer trading conditions have been favourable with the weather having been good,” CEO Bailey said.

“We were delighted that both our established and new stores experienced strong footfall, which was backed up by strong like for like sales both in-store and online, delivering a record month in August."

Quick facts: Angling Direct PLC

Price: 51.2 GBX

AIM:ANG
Market: AIM
Market Cap: £38.72 m
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