Angling Direct posts strong revenue increase
Angling Direct has said a strong performance in its second half has helped it to deliver total revenue growth of 11.9% to £91.3 million in FY2025.
In the year to 31 January, revenue growth in its UK business accelerated to 11.7% from 9% in the prior year, with 7.1% growth on a like-for-like basis.
Ahead of announcing its full year results in May, the fishing tackle and equipment retailer said the performance reflected the success of various self-help initiatives, including improved third party ranging and availability, a better own brand offer, and growth in its MyAD omnichannel customer loyalty club.
While UK online sales climbed by 8.4%, like-for-like store sales grew by 6% as the retailer benefited from increased footfall, higher transaction volumes and new store openings.
Never Miss a Retail Update!Angling Direct now operates 53 stores across England and Wales.
The retailer’s European online sales were also up, rising by 7.1% to £4.6 million, as it continued to focus on its key markets of Germany and the Netherlands and made further progress in reducing European operating losses. It also opened its first European store in Utrecht in the Netherlands.
Steve Crowe, chief executive of Angling Direct, said: “FY25 marks another year of significant progress against our medium-term objectives with growth delivered both in stores and online.
“The continued expansion of our UK footprint combined with the growing momentum of our MyAD customer loyalty club, provides a clear line of sight to achieving our medium-term revenue and adjusted EBITDA targets of £100 million and £6 million, respectively.
“We are proud to have delivered this strong performance against a highly challenging market backdrop and our sustained growth, despite persistent macro headwinds, demonstrates the resilient nature of our business model and demand for our products from a steadily growing customer base.”
