Angling Direct sales rise as summer draws anglers to riverbanks

Fishing tackle sales are up as Britain’s army of anglers returns to the riverbanks but polluted rivers pose a threat to the sport, the head of the country’s biggest angling equipment seller has said.
Angling Direct reported total revenue growth of 5.6 per cent to £45.8 million in the six months to July 31 and is confident of achieving a 25 per cent increase in UK sales to £100 million in the medium term.
Steve Crowe, chief executive, said that the company had expanded its UK footprint with the opening of two stores — bringing it to 52 nationwide — and the acquisition of three businesses.
Retail store sales were up by 8.4 per cent, while online revenue rose 2.8 per cent, although an expansion into Europe has yet to perform as hoped, with sales flat at £2.4 million.
The “pleasing” results have been bolstered by its customer loyalty club, MyAD, which has enjoyed subscriber growth from 220,000 to more than 330,000 since January. This came despite a rainy start to the year and the European football championship, which attracts a similar demographic and disrupts sales.
Angling Direct was founded by Martyn Page and William Hill, who opened a store in Norwich in 1986. It floated on the London Stock Exchange’s Alternative Investment Market in 2017.
The business opened its first store in continental Europe in Utrecht in May, which has opened up markets in the Netherlands and Germany, but the cost of shipping further afield and “distressed competition not behaving well” has convinced it to step back from other territories, particularly France.
“On face value the sales are flat in Europe but we see it as an attractive market and in time it will rectify itself,” Crowe said.
Angling Direct helps to fund the Angling Trust, a not-for-profit organisation which represents anglers and which focuses on protecting Britain’s waterways.
“Undoubtedly the improving health of the rivers is going to improve the health of the sport,” Crowe said. “It’s inextricably linked in my mind, and we want to help support the Angling Trust in being part of the solution rather than just sitting on the sidelines throwing rocks.”
Shares in Angling Direct, which hit a high of 86p at the peak of 2021’s spring lockdown, gained 4.2 per cent, or 1½p, to close at 37p.