Angling Direct lifts FY outlook after strong first half

(Sharecast News) - AIM-listed fishing tackle and equipment retailer Angling Direct lifted its full-year profit and revenue outlook on Tuesday after a strong first half.

In the six months to the end of July, adjusted earnings before interest, tax, depreciation and amortisation rose 39.4% to �3.9m on revenue of �53.6m, up 17% on the same period a year earlier. Adjusted pre-tax profit increased 34.7% to �3m.

Total UK sales were 17.7% higher at �51.1m, with growth both online and in store. Angling Direct said both channels saw increases in customer numbers as its omni-channel model, underpinned by MyAD and the company's price promise, continued to increase its reach and gain traction in a consolidating market. UK like-for-like sales rose 14.2%.

European sales grew 5.1% to �2.5m, with improved growth from the company's Utrecht store. In addition, the digital business continued to prioritise profitable sales in the key territories of Germany and the Netherlands, it said.

As far as current trading is concerned, Angling Direct said group revenues rose 10.8% over August and September.

The company now expects to beat current market expectations for FY26, with group revenues of not less than �102.0m and adjusted EBITDA of not less than �4.35m. Consensus market expectations for the year ending 31 January 2026 had been for revenues of �97.7m and pre-IFRS 16 EBITDA of �3.75m.

"Whilst the board is confident that its market leading position, strategy and resilient business model positions it well for further profitable growth, we remain vigilant to the external headwinds facing the sector, including inflationary pressures and consumer spending capacity," it said.

"This ongoing wider uncertainty mean that the board will continue to adopt a prudent approach to planning for the next financial year."

At 1018 BST, the shares were up 7.6% at 57p.