1st Feb 2016 07:45
LONDON (Alliance News) - Fishing Republic PLC on Monday said revenue in 2015 increased in line with market expectations and said it is confident for 2016 as it continues with its store expansion plans.
The fishing tackle retailer said revenue in 2015 grew 21% to GBP4.1 million from GBP3.4 million in 2014, reflecting the benefit of funds raised in its initial public offering in June, which were used to improve stock levels and enhance the company's marketing activities.
Fishing Republic added that its larger new store in Hull is now open and that its new stores in South Birmingham and Crewe remain on schedule for opening in March, in time for the fishing season. Meanwhile, the integration of Cotswold Angling near Swindon, which was acquired in December, is proceeding well.
"We remain confident about prospects for the business in 2016 as we continue our expansion plans," Chief Executive Steve Gross said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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