Angling Direct sees FY sales and profits rise
During the year, the group completed three UK acquisitions of existing retail businesses alongside opening three new UK retail catchments, scaling the UK store footprint to 53 stores
Angling Direct has reported a 11.9% increase in group revenues to £91.3m and a 23.6% rise in adjusted profit before tax to £2.0m for the 12 months ended 31 January 2025 (FY25).
Its adjusted EBITDA also increased 20.0% to £3.4m, slightly ahead of recently upgraded consensus market expectations.
In the UK, the group reported record sales of £86.4m, up 11.7%, driven by both store and online performance. Its UK retail store estate delivered strong revenue growth of 14.2% to £50.7m, fuelled by accelerated store rollout programme.
Meanwhile, like-for-like store sales also increased by 6.0%, with improved customer footfall.
Additionally, UK online sales grew 8.4% driven by improved conversion, with growth strengthening over H2. Its UK adjusted EBITDA also saw a 11.8% increase to £4.2m.
In Europe, sales grew 14.1% to £4.9m with continued progress in the key territories of the Netherlands and Germany
During the year, the group completed three UK acquisitions of existing retail businesses alongside opening three new UK retail catchments, scaling the UK store footprint to 53 stores.
It also opened the first European store in Utrecht, The Netherlands and deployed MyAD to trial the omni-channel model and a new automated packing machine in the third party distribution centre.
In Q1 FY26 sales increased 17.1%, achieving growth in the UK and Europe. The group also continued the execution of its UK store roll out strategy with the opening of one new UK trading location in Chester in April 2025.
Looking ahead, Angling Direct remains focused on delivering its medium-term financial objectives with good progress made against these during FY25, underpinned by the MyAD proposition.
In Europe, management remains focused on the controlled growth of the digital business and is “well placed” to accelerate new customer acquisition in The Netherlands store as it enters its peak trading season
Additionally, to mitigate the impact of labour costs, the group said it has committed to strategic investment in on shelf digital labelling technology, enabling further development in its dynamic retail pricing strategy.
The company’s board added it remains “mindful” of the external headwinds facing the sector but believes that “its experienced management team and agile business model position it well to navigate any challenges in the period ahead as it fully capitalises on the significant opportunity available in the UK and Europe.”
Steve Crowe, CEO of Angling Direct, said: “Angling Direct delivered a stellar performance in FY25, both against a strong comparator and ongoing negative pressure on consumer confidence and cost headwinds. Against this backdrop, we are pleased to report EBITDA for the year slightly ahead of recently upgraded consensus market expectations.
“The group increased UK store and online revenues and profits while also growing revenue and reducing losses in its nascent European operation. The UK store footprint increased to 53 and I am confident that plenty of opportunity remains, both greenfield and via acquisition. Coupled with this growth in stores, the group’s MyAD fishing club has increased its member numbers by 86% to 409k, demonstrating the benefits of loyalty and repeat purchasing, helping the group build more tailored and targeted customer offers.”
