Angling Direct

Today’s news in brief-14/5/25

Luxury fashion brand Burberry has announced plans to cut up to 1,700 jobs globally following a challenging financial year. The company reported a £3m loss, a sharp decline from last year’s £418m profit, with revenues falling 17% to £2.46bn amid a “difficult macroeconomic backdrop.” The restructuring, part of the ‘Burberry…

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Angling Direct sees FY sales and profits rise

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…

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Today’s news in brief-3/3/25

Asda is set to scrap bonuses for over 10,000 managers as part of cost-cutting measures amid challenging trading conditions. The decision comes shortly after chairman Allan Leighton returned to lead the supermarket after more than two decades, aiming to steer a turnaround for the struggling retailer. Leighton has already initiated…

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Angling Direct adds former French Connection COO to its board

Angling Direct has announced the appointment of Neil Williams, the former chief operating officer of French Connection Group, as an independent non-executive director effective immediately.  A chartered accountant who qualified at KPMG, Williams joins with extensive retail, consumer and public markets experience.  He held his board role at French Connection…

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Today’s news in brief-26/2/25

The British Retail Consortium (BRC) has warned that one in 10 part-time retail jobs, equating to up to 160,000 roles, could be at risk over the next three years due to rising employment costs. The BRC highlighted that part-time jobs are particularly vulnerable to changes in employer National Insurance Contributions…

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Angling Direct revenues surge 11.9% to £91.3m in FY 2025

Angling Direct, the omni-channel specialist fishing tackle retailer, has reported a 11.9% surge in £91.3m in FY 2025, driven by strong trading performance in the second half of the year despite the ongoing challenges in the broader consumer landscape. It comes as revenue in the UK business (stores and online)…

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Today’s news in brief-9/10/24

Shein’s UK arm reported robust financial results for 2023, with revenues climbing 38% to £1.55bn and pre-tax profits doubling to £24.4m. These figures surpass rival Boohoo’s latest annual revenues. The company also announced plans for an IPO in London, pending regulatory approval, to capitalise on its growth momentum and expand…

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Angling Direct revenues rise to £45.8m

Angling Direct, the fishing equipment retailer, has announced a 5.6% increase in revenues to £45.8m for the six months ended 31 July 2024. The group’s store sales were up 8.4% to £26.4m, while its online sales rose 2.8% to £17.0m. Like-for-like store sales also increased by 1.8% underpinned by improved…

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Today’s news in brief-15/5/24

Tesco CEO Ken Murphy has seen his pay more than double to nearly £10m, fueled by a 159% rise in pre-tax profits to £2.29bn and a 7.4% increase in group sales excluding VAT and fuel. This pay increase, largely due to a performance share plan, raised his compensation from £4.44m…

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Angling Direct reports pre-tax profit of £1.5m as sales surge

British fishing equipment retailer Angling Direct has reported pre-tax profits of £1.5m in FY24, up from £700,000 the prior year.  It also recorded revenues of £81.7m, up 10.2% in the financial year to 31 January 2024. Store sales increased by 7.6% to £44.4m (2023 £41.3m) and online sales increased by…

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