7th Oct 2025 12:32
(Alliance News) - Angling Direct PLC on Tuesday reported strong interim revenue and profit gains, as it guided full-year results ahead of market expectations.
The Norwich, England-based fishing tackle and equipment retailer reported pretax profit of GBP2.9 million for the six months that ended July 31, up 24% from GBP2.3 million a year prior.
Driving this advance were top-line gains, as revenue from contracts with customers improved 17% to GBP53.6 million from GBP45.8 million.
Total UK sales rose 18% to GBP51.1 million from GBP43.5 million, while European sales grew 5.1% to GBP2.5 million from GBP2.4 million.
Angling Direct reported strong growth in UK online sales, up 21% to GBP20.6 million from GBP17.0 million, "with increasing unique customer numbers and transaction growth".
However, the rise in earnings was held back somewhat by increased costs, as administrative expenses grew 19% to GBP15.2 million from GBP12.8 million and distribution expenses rose 24% to GBP2.1 million from GBP1.7 million.
Shares in the company were up 5.5% to 55.89 pence on Tuesday afternoon in London.
Looking ahead, Angling Direct said it is "well-placed" to deliver revenue and adjusted earnings before interest, tax, depreciation, and amortisation ahead of market expectations for the full-year, which ends in January.
The company noted consensus market expectations of GBP97.7 million in revenue and GBP3.8 million in pre-IFRS 16 Ebitda. Back in August, the company said it was trading in line with these expectations.
On Tuesday, Angling Direct upgraded its guidance for financial 2026 revenue to at least GBP102.0 million and for adjusted Ebitda to at least GBP4.4 million. For financial 2025, these figures were GBP91.3 million and GBP3.4 million, respectively.
"We are pleased to report that the momentum generated in FY25 has continued into the first half, with strong in-store and online sales providing confidence that the group will deliver a FY26 trading performance ahead of market expectations," said Chief Executive Steve Crowe.
By Christopher Ward, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Angling Direct