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Angling Direct plans European distribution centre

High street sales recovered at fishing tackle retailer Angling Direct (LON: ANG) even though they were closed in the first ten weeks of the first half. The stores did reopen in time to take advantage of the peak season and the interims sparked a one-fifth increase in the full year earnings per share forecast.

Angling Direct also managed to grow its online revenues even though they benefited from lockdown in the corresponding period when stores were closed at an important part of the year. The improvement was also achieved even though additional paperwork and transport costs meant that European sales fell. Also, lower margin eBay sales have been curtailed.

Management has decided to open a new distribution centre in the Netherlands next spring so that the company can take advantage of...

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