Angling Direct reels in results

Fishing retailer Angling Direct has revealed it swung to an annual loss after investing in new stores and online, but cheered record sales after a “transformational” year.

Britain’s largest fishing tackle retailer posted a £266,000 pre -tax loss for the year to 31 January against profits of £159,000 the previous year after so-called administrative expenses of £11.2 million.