Fishing for growth: Angling Direct continues to open shops across the UK as sales rise
Angling Direct is set to open its 23rd store later this month
Angling Direct has reeled in a 56 per cent boost to revenues as it continues to open shops across the UK.
Sales at the fishing tackle firm hit £21.9million in the six months to July 31 as the heatwave during the summer months and heavy snow earlier in the year failed to deter anglers.
Angling Direct is set to open its 23rd store later this month, in Guildford, with more in the pipeline.
Its ambitious plans come amid a difficult time for the High Street which has seen companies such as Poundworld, Toys R Us and Maplin go bust this year, while many other retailers plan to shut shops.
Same store sales were up 4.2 per cent compared with a year earlier, while its online business continued to account for the majority of its sales which totalled £11.7million.
The retailer launched a German website last year and is planning to open more online European businesses later this year.
Shares soared 16.2 per cent, or 13.5p, to 97p on the announcement.
Darren Bailey, chief executive, said performance for the first half of the year was ‘extremely positive’.
Bailey, who has over 30 years’ experience in the angling retail sector, said figures were pleasing ‘despite the adverse winter weather earlier in the year and the very hot summer’.