TIDMANG

RNS Number : 1203W

Angling Direct PLC

09 December 2019

9 December 2019

Angling Direct plc

("Angling Direct" or the "Company")

New Store Opening & Black Friday Trading Update

Angling Direct plc (AIM: ANG.L), the UK's largest and fastest growing fishing tackle and equipment retailer, is pleased to announce that it opened a new store in Barnsley, South Yorkshire, on Saturday 7 December 2019. The latest store opening brings the total number of Angling Direct stores across the UK to 33 and further strengthens Angling Direct's presence across the UK.

The new store, a former fishing tackle outlet, is located in Snape Hill Road, Darfield, and has been completely renovated throughout to provide a much better experience for Angling Direct's customers.

The store is ideally situated in a hugely popular fishing area with a large and passionate angling community, surrounded by lakes and other river venues. 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 four full and one part-time positions.

Trading Update

The Company achieved record performance during the Black Friday week, which ran from 25 November 2019 to 2 December 2019, with total sales up 11.3% to GBP1.86 million (2018: GBP1.67 million). During this period, Angling Direct supplied 5,868 new customers, with Black Friday transactions up 28.9% to 18,204 (2018: 14,123).

Profit during the Black Friday period was up 49.5% on last year due to the Company's selective approach towards discounting items, with a 10% maximum discount being applied across the core product ranges.

The Company continues to trade in line with market expectations and management is confident that it will continue to deliver growth through the second half of the year.

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

"We are excited to have opened our latest store in Barnsley, which supports the recent opening of the Rotherham store. The new store offers products for all disciplines across this very enthusiastic angling community.

"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.

"We are delighted to report that trading remains strong, which is due to recent store openings, enhanced operational performances both in store and online, and our targeted approach towards Black Friday, which resulted in a record performance."

For further information:

 
 
   Angling Direct PLC                             +44 (0) 1603 258658 
 Martyn Page, Executive Chairman 
 Darren Bailey, Chief Executive Officer 
 
   Cenkos Securities - NOMAD and Broker 
 Stephen Keys / Cameron MacRitchie (Corporate 
  Finance) 
  Russell Kerr (Sales)                           +44 (0) 207 3978900 
 
 Yellow Jersey PR - Financial PR                 +44 (0) 203 004 9512 
 Charles Goodwin                                 +44 (0) 7747 788 221 
 Harriet Jackson 
  Annabel Atkins                                 +44 (0) 7544 275 882

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 33 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 rns@lseg.com or visit www.rns.com.

END

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December 09, 2019 02:00 ET (07:00 GMT)

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