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LONDON - Angling Direct plc (AIM:ANG), a specialist fishing tackle and equipment retailer, reported a 17% increase in total revenue to £53.6 million for the six months ended July 31, 2025, according to a trading update released Wednesday.
The company’s UK retail store sales grew 15.4% to £30.5 million, while UK online sales rose 21.2% to £20.6 million. Total (EPA:TTEF) UK like-for-like sales increased 14.2%, with European sales up 5.1% to £2.5 million.
Angling Direct’s customer loyalty program, MyAD, reached 500,000 subscribers in August 2025, up from 409,000 in January 2025, which the company cited as a key factor in its revenue growth.
The retailer opened a new store in Chester in May and another in Bradford after the reporting period, bringing its total store count to 55 across England and Wales. Its first European store in Utrecht, Netherlands, which opened in May 2024, saw customer visits nearly triple in June and July compared to the previous year.
The company reported net cash of £12.5 million as of July 31, 2025, down 26.5% from £17 million in the comparable period last year. This decrease reflects investments in store expansion and digital technology, as well as £1.1 million returned to shareholders through a share buyback program initiated in December 2024.
"We have delivered another period of sustained progress against our medium-term objectives," said Steve Crowe, CEO of Angling Direct, in the press release statement. "Our increasing customer appeal underpinned by our loyalty fishing club, MyAD, and the associated growth of revenues in our existing UK stores and digital platforms, provides us with further confidence in achieving our medium-term UK revenue target of £100m."
The company stated it remains on track to meet full-year consensus market expectations of £97.7 million in revenue and £3.75 million in adjusted EBITDA for the year ending January 31, 2026.
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