StockMarketWire.com - Fishing tackle retailer Angling Direct said like-for-like sales increase 15% thanks to strong store and e-commerce sales in the first half of the year.

For the six months ended 31 July 2019, revenue increased by 21% to £26.52m, in line with management's expectations, with like-for-like store sales, up 15% on last year.

Retail store sales increased by 41% to £14m and online sales increased 10% to £11.90m from a year earlier, benefitting from the continued investment in the company's e-commerce platform and expansion into European markets.

'Store expansion remains on track, with the company's latest store opening in Leeds on 10 August 2019, Angling Direct said. 'This brings the total number of Angling Direct stores across the country to 29 and further enhances the Company's footprint across the UK.'

Looking ahead, the company said it remained confident in the outcome for the year, and expected to report gross margins for the period of 32.1%.




Story provided by StockMarketWire.com