Why Angling Direct has seen revenue rise to £38.4m

Fishing retailer Angling Direct said it delivered strong progress against its stated priorities for the current financial year as reported a rise in revenue and pre-tax profit.

Angling Direct has stores in Leeds and Rotherham.

Angling Direct, which has stores in Leeds and Rotherham, reported revenue of £38.4m for the six months July 31, up 19.5 per cent on the same period last year.

Online sales accounted for £18.5m of revenue while retail store sales brought in £19.9m. Pre-tax profit rose from £1.4m last year to £3.7m.

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Andy Torrance, CEO of Angling Direct, said: "We are pleased to have delivered a robust financial performance in the first half of the year, building on the operational and strategic progress made last year.

"These results demonstrate that the increasingly efficient, market leading omni-channel nature of the company's trading platform, combined with its strong balance sheet, ensures it is well placed to serve customers across all channels as it emerges from the challenges of the Covid 19 pandemic.

"The group has delivered strong progress against its stated key priorities for FY22 in the first half, including its plans to establish in-region online European fulfilment which is now entering implementation phase.

"With the group's leading customer offering and optimised operational capabilities, combined with the scale of the market opportunity, the board remains optimistic about the growth prospects and overall success of the business."

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