Fishing tackle retailer Angling Direct (LON: ANG) has announced its capital allocation policy details. The share price rose 2.5p to 38.5p.
The plan of the AIM-quoted company is to retain a level of cash to cope with the peaks and troughs of trading, while investing in accelerating the UK store roll out. There will also be cash set aside for acquisitions. Once the requirements have been assessed then any surplus cash can be put towards share buybacks and a £4m programme has been announced.
In the six months to July 2024, revenues were 6% ahead at £45.8m with the growth coming in the UK. ...
