Fishing firm Angling Direct reels in big sales

Updated: 23:02 BST, 23 August 2023

Anglers continue to flock to the lakes, rivers and coastlines of Britain as they shrug off pressure on family finances.

In an update to the stock market, fishing tackle and equipment seller Angling Direct said sales in the UK hit £40.9m in the six months to the end of July.

Angling Direct said sales in the UK hit £40.9m in the six months to the end of July

That was more than 10pc higher than the same period a year earlier as anglers splashed out. Online sales rose 8.3pc to £16.5m while revenues at its 47 stores, including recently opened sites in Cardiff and Goole, rose 11.3pc to £24.4m.

The Norwich company, which is listed on AIM with a value of around £30m, has also been expanding in Europe where online sales rose nearly 40pc to £2.4m.

Angling Direct said it is on course to make revenues of £83m for the full year and profits of £2.7m – in line with City expectations. Shares fell 1.3pc, or 0.5p, to 38p.

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