Angling Direct hooks rising profits
Retail: Fishing tackle retailer Angling Direct has posted rising interim profits and revenues as it continued to see strong growth and invested in further expansion.
For the six months ended July, pre-tax profit jumped to £572,000 from £86,000 the year prior. This was after revenue rose 55 per cent to £21.9m from £14.1m the year before.
Revenue was driven by a significant rise in store numbers to 22 from 15 a year prior. Likefor-like store sales rose 4.2 per cent with total store sales 60 per cent higher. Online sales also were 60 per cent higher to £11.7m, the company said yesterday.