// Angling Direct records rise in interim sales & profits in half-year report
// Angling Direct currently has 34 stores and also trades through online
Angling Direct has reported a rise in interim sales and profits and now expects to meet its full-year expectations.
In the period to July 31, the fishing retailer saw a 15.7 per cent rise in adjusted EBITDA to £1.25 million on sales up 21 per cent to £26.5 million.
In-store revenue was up 41.1 per cent to £14 million, when UK online sales rose 16.8 per cent to £9.2 million and in Europe advanced 29 per cent to £2.7 million.
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Between June 1 and August 31, store like-for-like sales increased 13.3 per cent, while online sales climbed 26.7 per cent.
“It has been another highly successful period for the group with strong growth achieved across our network of stores and online,” Angling Direct executive chair Martyn Page said.
“We have successfully executed our strategy to deliver new store openings and have further consolidated the market through selective acquisitions.”
Angling Direct currently has 34 stores and also trades through online.