Business
Full Year Trading Update and Notice of Results
Full Year Trading Update and Notice of Results.
About this update from Angling Direct Plc
[{"type":"text","content":"\n\n26 February 2025\n \nAngling Direct plc\n(\"Angling Direct\" or the \"Company\" or the \"Group\")\n \nFull Year Trading Update and Notice of Results\n \nRevenue and adjusted EBITDA slightly ahead of market expectations\n \nAngling Direct plc (AIM: ANG), the leading omni-channel specialist fishing tackle and equipment retailer, is pleased to provide the following unaudited trading update in relation to the financial year ended 31 January 2025 (\"FY25\"), ahead of announcing its Final Results on 13 May 2025. The Board expects to report FY25 revenue and adjusted EBITDA slightly ahead of market expectations1.\n \nFinancial Highlights\n \n\n\n\n\n£m\n \n\n\nFY 2025\n\n\nFY 2024\n\n\nChange\n\n\n\n\nRevenue\n\n\n91.3\n\n\n81.7\n\n\n11.9%\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nUK Retail store sales\n\n\n50.7\n\n\n44.4\n\n\n14.2%\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nUK Online sales\n\n\n35.7\n\n\n32.9\n\n\n8.4%\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nTotal UK sales\n\n\n86.4\n\n\n77.4\n\n\n11.7%\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nTotal European sales\n\n\n4.9\n\n\n4.3\n\n\n14.1%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nNet cash & cash equivalents at period end\n\n\n12.1\n\n\n15.8\n\n\n-23.5%\n\n\n\n\n \nThe Group delivered a strong trading performance for the second half of FY25 despite the ongoing challenges in the broader consumer landscape, delivering total revenue growth of 11.9% to £91.3m (FY24: £81.7m).\n \nRevenue growth in the UK business (stores and online) accelerated to 11.7% (FY24: 9.0%) and was 7.1% higher on a like-for-like basis2 (H1 2.2% and H2 12.6%) This performance reflected the success of various self-help initiatives, including improved third party ranging and availability, an increasingly compelling own brand offer and the growth of the MyAD omni-channel customer loyalty club to over 409k subscribers, an 86% increase vs 31 January 2024 (220k).\n \nUK like-for-like store sales grew 6.0%3, benefitting from increased footfall and higher transaction volumes. The Company accelerated its new store opening programme through the year, utilising its strong balance sheet to open three new stores in Cannock (February), Newark (June) and Derby (January) with the acquisition of a further three businesses in Crewe (March), Walsall ...