New Store Opening and Trading Update

RNS Number : 6940W

Angling Direct PLC

23 April 2019

 

23rd April 2019

Angling Direct plc

("Angling Direct" or the "Company")

New Store Opening and Trading Update

Angling Direct plc (AIM: ANG.L), the largest specialist fishing tackle and equipment retailer in the UK, is pleased to announce that its new Nottingham store opened on Friday 19 April 2019, bringing the total number of Angling Direct stores across the country to 27 and further strengthening Angling Direct's presence across the UK.

The Nottingham store, which was previously occupied by Majestic Wines, occupies a 4,500 sq ft. display area and is located north of the main town, in Daybrook, and can be easily accessed via the A60 and other arterial roads.

It is the first fishing tackle "destination store" of its kind in the Nottingham area, located in a popular fishing area with strong angling communities, near the river Trent. The store caters for a wide range of angling disciplines, whilst also providing excellent service from the Company's local and knowledgeable employees. The new store will create five full and three part-time positions.

Angling Direct is pleased to announce that it has enjoyed a record start to the year, with both the store network and e-commerce generating robust sales growth. The Company continues to improve and invest in the customer experience, which is reflected in the performance of its stores. Across all stores, like-for-like sales were up by 29.5% in February and March, and overall sales were up 28.5% compared to the previous year. Meanwhile, online orders for January and February were up by 27%, compared to the previous year, and the German, French and Dutch websites are also performing well, leading to a 66% jump in European sales. The Company's UK store roll out programme remains on track, with further stores in the pipeline for 2019.

Angling Direct's Chief Executive Officer, Darren Bailey, commented:

"We are very excited to have opened our Nottingham store, which is set in a very popular angling area near the river Trent. The location also offers a good number of local lakes which all cover a broad range of fishing disciplines.

"As we seek to cater for all anglers across the UK with a new and modern retail offering, we will continue to strategically expand our physical geographical footprint, as well as enhance our online offering in terms of products, experience and education in order to help raise the profile of angling.

"Whilst other areas of the retail sector may be experiencing difficulties, we are delighted that our strategic focus on customer experience and service, as well as positioning our stores in the correct locations, is driving our growth and brand value. We look forward to updating the market on our further progress in due course."

The Company looks forward to reporting its Full Year Results for the 12-month period ended 31 January, 2019 on Monday 13 May, 2019.

An analyst briefing will be held at 9.30am on the morning of the Company's results at Cenkos Securities offices, 6-8 Tokenhouse Yard, London EC2R 7AS. To attend please email [e-mail].

For further information:

	Angling Direct PLC		[phone]
	Martyn Page, Executive Chairman
	Darren Bailey, Chief Executive Officer
	Cenkos Securities - NOMAD and Broker
	Stephen Keys (Corporate Finance) Russell Kerr (Sales)		[phone]
	Yellow Jersey PR - Financial PR
	Charles Goodwin		[phone]
	Harriet Jackson Annabel Atkins		[phone]

Notes for editors

About Angling Direct plc

Angling Direct is the largest specialist fishing tackle retailer in the UK. The Company sells fishing tackle products and related equipment through its network of retail stores, located throughout the UK, as well as through its own website (www.anglingdirect.co.uk) and other third-party websites.

The Company currently sells over 21,500 fishing tackle products, including capital items, consumables, luggage and clothing. The Company also owns and sells fishing tackle products under its own brand 'Advanta', which was formally launched in March 2016.

From 1986 to 2003 the Company's Founders acquired interests in a number of small independent fishing tackle shops in Norfolk and, in 2003, they acquired a significant premises in Norwich, which was branded Angling Direct. Since 2003, the Company has continued to acquire or open new stores, taking the total number up to 27 retail stores. In 2015 the Company opened a 30,000 sq ft central distribution centre in Rackheath, Norfolk, where the Company's head office is also located.

Angling Direct's shares are traded on the AIM market of the London Stock Exchange under the ticker symbol ANG.L.

For further information, please visit www.anglingdirect.co.uk

 

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