Angling Direct PLC Trading Update (7532K)

TIDMANG

RNS Number : 7532K

Angling Direct PLC

18 December 2018

18 December 2018

Angling Direct plc

("Angling Direct" or the "Company")

Trading Update

Angling Direct plc (AIM: ANG.L), the largest specialist fishing tackle and equipment retailer in the UK, is pleased to provide the following trading update for the period between 1 August 2018 and 30 November 2018 (the "Period").

Highlights:

   --    Group sales for the Period grew by 31.5% to GBP14.568 million (2017: GBP11.079 million) 

o In-store like for like sales increased by 7.2% to GBP4.961 million (2017: GBP4.629 million)

o E-commerce sales increased by 24.3% to GBP6.714 million (2017: GBP5.401 million)

-- International sales up 96.1% during the Period and 97.7% in November, supported by new German language website

-- Record E-commerce Black Friday week performance, which ran from 19 to 26 November, with sales up 55.8% to GBP1.295 million (2017: GBP0.831 million)

o Black Friday transactions up 42.5% to 14,123 (2017: 9,913)

o Average Black Friday basket up 9.4% to GBP91.73 (2017: GBP83.86)

   --    Group sales for November up 19.3% to GBP3.352 million 

o In-store like for like sales up 2.5%

o E-commerce sales up 16.3%

Against the backdrop of a rapidly evolving retail sector, the Company has continued to deliver a robust performance, which reflects Angling Direct's strong retail offering and growing brand loyalty. This momentum has continued into the Christmas trading period and, as such, the Board remains confident of meeting full year expectations.

The Company's international sales are also growing well, both via anglingdirect.com and the dedicated German site. The Company is on track to launch its dedicated websites for the French and Benelux markets by the end of the year.

Angling Direct's Chief Executive Officer, Darren Bailey, commented: "The Company has taken great encouragement from the recent performance against the backdrop of a difficult retail trading environment. As the business launches its new international websites and continues to invest in its stores and overall customer experience, we believe that Angling Direct remains well placed to build on its market leading position."

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 
  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 24 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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December 18, 2018 02:00 ET (07:00 GMT)