StockMarketWire.com - Fishing tackle and equipment retailer Angling lifts its forecast on core earnings for the full year after reporting 'robust' financial first-half performance.

Earnings before interest, taxes, depreciation and amortisation, or EBITDA, for the year ending 31 January 2022 would be no less than £5.0 million, 'comfortably exceeding' current market expectations, the company said.

For the six months ended 31 July 2021, pre-ax profit jumped 147.2% to £3.7 million year-on-year as revenue increased 19.5% to £38.4 million.

Since restrictions were lifted on 12 April 2021, and all stores re-opened, sales to the end of the period returned to a 'more traditional profile when compared to the prior year when sales were skewed by the pent-up demand caused by the first lockdown,' the company said.

Online sales in the period grew by 3.2% to £18.5 million, reflecting the year-on-year lockdown driven change in channel mix, it added.






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