Angling Direct Share Discussion Threads

[argylerich] 21/8/2024 18:03

UK retail sector, as far out of fashion as possible unfortunately

[johnfreeadvfn] 21/8/2024 14:58

Frankly surprised that nothing has happened bearing in mind that the UK business appears perfectly solid, the cash is there, and there are significant shareholders who are clearly looking for some sort of resolution. Ok, they seem determined to bash their heads against the Euro wall - others might be able to help them do it better, or they could just close it - done think that there’s a blocking shareholding- but could be wrong - so what am i missing?

[argylerich] 21/8/2024 07:16

UK trading going well, Europe still struggling to get momentum.
A mcap of £28m and £17m in the bank surely won't last for long.

[argylerich] 19/8/2024 07:27

TU this Wednesday 21st

[argylerich] 26/7/2024 11:51

Got to be worth a 10% movement to cashflow/profits to warrant an RNS. Could do a 'Reach' release but with TU due in 3 weeks....

[tallprawn] 26/7/2024 11:21

Total Angling in Shrewsbury acquired and added to the AD branch network. Surprised there has been no RNS as it's a decent sized existing store.

[mattafc] 08/7/2024 11:02

Nice bit of volume going in today

[sirshagalot] 27/6/2024 12:51

They are taking it easy and steady, is it not better to have managment that is very careful in steering the company into larger profits.
The cash is ok and its a good thing.
They survived the covid cull that many international competetors failed , europe is the oyster that these guys needs to breakinto.
They must be streamlined and efficient and competetive be patient it will come.
I have my eyes on this co for some time i failed to buyinto it 2 years ago.

[dexterburt1] 21/5/2024 08:47

Until the company addresses this ridiculous situation and continues to operate as a bank with an angling business attached to it the stock is going nowhere.

[gopher] 19/5/2024 12:00

Alerted to this company by Chris Boxall run through of the apparent value on offer but not sure whether the angling market is an opportunity or a value trap.The company is struggling to come up with a strategy to deploy its cash and is cautious. They looked at a business in administration but decided against it as the finances weren't good enough which is a truism for any failed company. Not the confidence in their own business model to crack the Netherlands by buying the no2 here. Uk should be self funding by this time and modest plans for expansion look right.I have no objection to Europe but one is working on a model that if you're the biggest then suppliers give you better terms, something that has worked well in many mature markets.No dividend is a turnoff whilst one waits.

[tole] 15/5/2024 06:46

https://www.thearmchairtrader.com/uk-shares/angling-direct-profits-tough-year/

[dubby] 14/5/2024 21:16

Over 50% of the market cap is cash, i'm no rocket scientist, either buy your own shares back or be taken over by people who can better make use of the cash and assets.

[dexterburt1] 14/5/2024 19:33

Some interesting points in the results today:1. "...we have signed an agreement with a leading UK retailer to trial retail space within its existing estate where it is mutually beneficial to both parties."2. "In Q4 FY24, the UK business committed to a seven- figure capital investment in an automated UK packaging solution, to drive further efficiencies and reduce exposure to further significant living wage inflation."The rate of expansion might feel unambitious and the European expansion remains an issue but to give credit they're sticking to the strategy. The only rationale for holding onto this much cash is to entice a potential suitor in my view...

[my retirement fund] 14/5/2024 08:20

As a standalone business, it wouldn't be able to support the expensive executive board structure with CRR, CFO, non execs, nomad, additional accounting and listing costs, so that's a problem.

[pireric] 14/5/2024 06:43

Almost half of PBT is still coming from interest income, rental income and insurance proceeds, so only generating about £750-800k of pre-tax profit

There is value here, but with a meagre 4% Q1 revenue growth, it's hard to get excited that profit would efen be up this year, or that we should be valuing the cash balance at par when it seems they don't know what to do with it.

A real capital allocator would come in, close down Europe, return a significant amount of cash back to shareholders and ride the re-rating up a chunk. Although then left with a more mature UK business so needs an unambitious operational management team.

Eric

[dexterburt1] 28/4/2024 19:50

Still don't understand why this business is persisting with European expansion. Appears that their scale in the UK does not translate into any advantage (or vice versa) and they have plenty of room to grow in the domestically. Closing the EU cash incinerator translates to 4% EBIT margin on an LTM basis.

[darrin1471] 28/2/2024 08:51

I don't know how, but I missed last weeks trading update. Maybe others did also because the opening of the first European store is a noteworthy event.

[argylerich] 26/2/2024 10:40

Dexter yeah the cash is an interesting one. They raised it during covid @50p and have expressed reluctance about returns/buybacks etc below that level.
Whilst that was happening their Euro expansion was twisted by Brexit resulting in the warehouse at Venlo and plans for Euro aquistions to bring them up to break-even quicker.
From the recent info that they're opening their own store it would appear that they're not getting sellers at the price they want so they're proving that they will also do it themselves, adding pressure.
The new CFO is very deal orientated so I'd still expect something on that front. In the meantime I'd hope that they're getting a decent return on the cash, a question always ignored at meetings.

[dexterburt1] 23/2/2024 12:03

Fair point.

They need to do something with the cash. If they have no plans to invest it, give it back to shareholders who can put it to work!

[argylerich] 14/2/2024 09:47

Because it's not financially significant? Which actually can be taken as a positive as it reflects how much they've grown the UK side.

It's Europe we're waiting for now.

[dexterburt1] 14/2/2024 09:24

Why no RNS!

[evoque92] 12/2/2024 15:36

hxxps://angling-international.com/2024/02/10/angling-direct-announces-acquisition-and-opens-49th-store/

Acquisition and a greenfield store

[mattafc] 30/1/2024 10:47

A little bit of interest here today