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(Sharecast News) - Fishing equipment retailer Angling Direct said on Wednesday that FY25 revenues were expected to be "slightly ahead" of market expectations.
Angling Direct said total revenues had grown 11.9% to £91.3m, with UK sales up 11.7% to £86.4m and European sales 14.1% higher at £4.9m, reflecting the success of various self-help initiatives, including improved third party ranging and availability, its "increasingly compelling" own-brand offerings and the growth of its MyAD omni-channel customer loyalty club.
The AIM-listed group stated UK retail store sales were 14.2% stronger at £50.7m and UK online sales improved 8.4% to £35.7m.
Angling Direct stated that in line with its medium-term objectives, it remains focused on gross margin development through a number of initiatives, including improved ranging, buying and own-brand deployment, alongside driving cost efficiency through both innovation and operational leverage as its UK and European businesses scale.
As of 1020 GMT, Angling Direct shares were down 1.02% at 39.0p.
Reporting by Iain Gilbert at Sharecast.com
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