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Home / Sporting Events / Fishing / Angling Direct reels in 44pc sales surge in first year on Aim

Angling Direct reels in 44pc sales surge in first year on Aim

Britain’s biggest seller of fishing equipment posted a strong set of maiden results after using the proceeds of its initial public offering to fund a takeover spree and open new shops.

Revenues at Angling Direct, which began life as a single tackle shop on the Norfolk Broads, soared 44pc to £30m in the year to January, thanks to soaring sales both online and in its shops.

The firm went public on London’s junior Aim market in July at a valuation of £27.4m, raising £9m which it used to fund takeovers of three rivals, including Fosters of Birmingham, Britain’s largest fishing shop.

It also opened three new shops in Swindon, Slough and Stoke-on-Trent, taking the total to 21 and helping boost overall…

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