// Angling Direct records strong sales growth in Q1 2022 of 54%
// “Despite the challenges brought about by the pandemic, we have remained focused on driving operational excellence”
In a trading update the fishing tackle retailer Angling Direct has announced it has made progress despite all retail stores being closed at the beginning of the year amid Covid-19 restrictions.
Total revenues increased by 19.5 per cent to £38.4 million in the six months to July 31, after increasing by 54 percent and 3.5 percent in the first and second quarters, respectively.
The smaller growth in the second quarter was attributed to the performance being compared to unprecedented levels of demand in the prior year following store re-openings following initial Covid restrictions, according to the retailer.
UK online sales grew by 15.8 per cent although German, French and Dutch native language websites sales in Europe were down by 34.2 per cent, impacted by post-Brexit restrictions on bait sales and significant customs border disruption, impacting lead times and customer confidence.
The retailer reported that the latter has started to improve in recent months, and it remains a strategic priority for the Group to establish a more efficient trading model in Europe.
Meanwhile, store sales rose by 40.1 per cent.
As well as the company’s web distribution centre continuing to operate safely throughout the period, retail stores continued to provide a call and collect service.
The Company opened one new store in the period in Redditch and re-sited another in Sittingbourne and the business currently operates a total of 39 stores across the UK.
Angling Direct chief executive Andy Torrance 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,”
“Despite the challenges brought about by the pandemic, we have remained focused on driving operational excellence and taking our seamless omnichannel proposition to new and existing angling communities.
“Our market leading offering means we are well positioned to leverage the growing interest in fishing, and we look forward to further updating shareholders at the Interim Results in October.”
The company is set to announce its half year results for the six months ended 31 July 2021 on October 13.
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