Investment in growing the business means that fishing tackle retailer Angling Direct (LON:ANG) reported a fall in interim pre-tax profit. That was not a surprise and the benefits of the growth in the retail estate will take time to show through.
The first half is the profitable period of the business, but much higher administrative costs meant that interim pre-tax profit fell from £480,000 to £323,000, while revenues were one-fifth higher at £26.5m. Excluding exceptional costs, last year ther...
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