Fishing tackle retailer posts record revenue | Economic news from the Center and East

Fishing tackle and tackle retailer Angling Direct is expected to post record revenues despite a difficult climate.
The omnichannel business reports a 7.2% rise in revenue for the year to 31 January to £72.5m from its ‘exceptional’ sales of £67.6m for the year former.
The results were achieved despite all Angling Direct retail stores being forced to close between February 1, 2021 and April 11, 2021 due to Covid-19 restrictions and therefore can only operate on a “call and withdraw” basis.
Growth was driven by strong in-store sales as Covid-19 trade restrictions eased, although online sales were down slightly.
Angling Direct now has 42 sites.
Managing Director Andy Torrance said, “We are extremely pleased with the company’s business performance in another challenging year.
“Despite significant government restrictions endured during the period, we achieved our operational and strategic objectives. We recorded record revenues, opened four new stores and continued to invest in our long-term growth strategy, including the imminent opening of our European distribution in the Netherlands This investment along with our investment in technology and a strong balance sheet positions the company well to accelerate its growth strategy.
He added: “These achievements would not have been possible without the continued commitment of all of our colleagues at Angling Direct whom I would like to thank again for their incredible support throughout the year.”