Angling Direct reveals record sales for year

UK-based omni-channel tackle retailer Angling Direct, which also operates in key European territories, has detailed record UK sales for the past year.

The firm, which boasts 47 UK stores, a major retail website, native language sites covering Germany, France and the Netherlands plus a Dutch international distribution centre, says revenue rose by 10.2 per cent to £81.7 million last year.

Buoyed by rising retail store sales of 7.6 per cent plus two additional store openings, it announced record UK sales of £77.4 million.

It also revealed UK online sales growth of 11.1 per cent, driven by average basket increases, representing a return to growth and a significant increase on pre-Covid levels.

Its European online sales, meanwhile, grew 36.3 per cent, with the key territories of Germany, France and The Netherlands growing by 40 per cent year-on-year.

Gross margin increased to 34.9 per cent with progress in both the UK and Europe driven by ranging and own brand progression, offsetting increased levels of store theft.

It also said it had engaged over 27,000 new and lapsed participants to angling as a pastime through continued support of the Angling Trust as lead sponsor for its Get Fishing campaign.

CEO Steve Crowe said: “The last 12 months have seen Angling Direct further expand its market share and grow sales, despite the continued industry headwinds.

“Supported by our omni-channel business model, we are pleased to have achieved record UK revenues of £77.4m and delivered growth across our markets. This stellar performance reflects the dedication and exceptional customer service provided by Angling Direct colleagues. 

 “Throughout the period, we have made good progress against our strategic objectives. Through a prudent and considered investment strategy, we have continued our store rollout plans in the UK and, for the first time, into mainland Europe.

“The opening of our store in Utrecht marks a significant milestone for Angling Direct, and we are pleased that our European customers can now participate in the full omni-channel proposition.”

He added: “The board remains optimistic about the long-term growth prospects of the group and, despite the challenges we have seen in consumer confidence, inflation, and sub-optimal weather, the angling market remains resilient.

“We are excited to set out our medium term objectives which outline our strategy of continued growth both in the UK and Europe in the years ahead.”