Angling Direct PLC New Store Opening and Summer Trading Update (3598M)

TIDMANG

RNS Number : 3598M

Angling Direct PLC

16 September 2019

16 September 2019

Angling Direct plc

("Angling Direct" or the "Company")

New Store Opening and Summer Trading Update

Angling Direct plc (AIM: ANG.L), the largest specialist fishing tackle and equipment retailer in the UK, is pleased to announce that it has opened its 30(th) UK store in Milton Keynes, which began trading on Saturday 14 September 2019.

The new store offers a 6,500 sq ft. display area and is located just off the A5 at Winterhill, a major retail warehouse area, south west of the City Centre, the store is also approachable from the M1 which is 3 miles to the east.

Located in a hugely popular fishing area, with a large angling community and a series of lakes and river venues, the store is the only fishing tackle "destination store" of its kind in the area. As with all Angling Direct stores, it caters for a wide range of angling disciplines, whilst also providing excellent service from local and knowledgeable staff. The new store is creating five full and three part-time positions.

Summer Trading Update

Angling Direct has traded well during the summer period (1 June 2019 to 31 August 2019) with high footfall across its store network and record unique user numbers online. The Company achieved 13.3% like-for-like sales growth in-store and 26.7% online over this period with August being a record sales month for the Company, generating turnover of GBP5.5 million and online delivering a 40% increase against August 2018. The three-month period (1 June 2019 to 31 August 2019) is up 31% overall on the previous year, with the trend continuing well into September.

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

"We are very excited to have opened our Milton Keynes store, located just south of the town on a major retail park. Milton Keynes is a very popular angling region and the new store offers products for all disciplines of angling whilst also housing a full size Pole alley.

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

"The summer trading conditions have been favourable with the weather having been good. We were delighted that both our established and new stores experienced strong footfall, which was backed up by strong like for like sales both in-store and online, delivering a record month in August."

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                   [phone] 
  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 30 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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September 16, 2019 02:00 ET (06:00 GMT)