Update re. November Lockdown

RNS Number : 3095E

Angling Direct PLC

05 November 2020

 

5 November 2020

 Angling Direct plc 

("Angling Direct", the "Company" or the "Group")

Update re. November Lockdown

Angling Direct plc (AIM: ANG), the largest specialist fishing tackle and equipment retailer in the UK, provides an update on the Group's operations in relation to the UK government's enforced closure of non-essential retail stores for four weeks from Thursday 5 November.

The Company confirms that its stores are now closed, but will remain trading with a call-and-collect service adopted in accordance with government guidelines. Angling Direct's webstore remains fully operational for both the UK and European sales, with the distribution centre geared to fulfil increased demand through this channel, with the upcoming Black Friday and Christmas period.

The Company notes that momentum achieved in the half year has continued with sales remaining robust through October. The Company's balance sheet and liquidity position remains strong and the majority of its key suppliers have confirmed that they will continue to operate during the lockdown period. As a result, the Board confirms that the Group continues to trade in line with market expectations for the year ending 31 January 2021.

Angling Direct is pleased the wellbeing benefits of fishing continue to be recognised and agrees with Angling Trust's interpretation of government guidelines, that angling is a legitimate health and wellness activity which can safely continue.

For further information please contact:

Angling Direct PLC	[phone]
Martyn Page, Executive Chairman Andy Torrance, Chief Executive Officer Steven Crowe, Chief Financial Officer
N+1 Singer - NOMAD and Broker
Peter Steel, Alex Bond (Corporate Finance) Tom Salvesen (Corporate Broking)	[phone]
Yellow Jersey PR - Financial PR
Charles Goodwin Georgia Colkin Annabel Atkins	[phone] [phone]

About Angling Direct

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 websites (www.anglingdirect.co.uk, .de, .fr and .nl) 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 2002, the Company's founders acquired interests in a number of small independent fishing tackle shops in Norfolk and, in 2002, they acquired a significant premise in Norwich, which was branded Angling Direct. Since 2002, the Company has continued to acquire or open new stores, taking the total number up to 38 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. The Company has an established, and rapidly growing, presence in Europe with native language websites set up in key regions to address demand.

 

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