UK's Angling Direct H1 revenue, profit rise on strong demand

Overview

• UK fishing tackle retailer's H1 revenue rose 5.1% year-on-year

• Adjusted EBITDA and basic EPS both increased year-on-year in H1

• Company has acquired about 12% of shares since December 2024, returning £4.1 mln to shareholders

Outlook

• Company says it is trading in line with full-year market expectations of FY27 revenue of £109.1 mln and adj EBITDA of £5.7 mln

• Company reports 10.7% revenue growth in August and September amid volatile pricing environment

Result Drivers

• ONLINE SALES GROWTH - Co said UK online sales rose 7.5% in H1, driven by MyAD loyalty programme and 'shop the range' technology

• OWN BRAND PROFITS - Co said higher margin own brand gross profit grew about 22% in H1, supported by new ranges and improved sourcing

• OMNI-CHANNEL CUSTOMER GROWTH - Co said omni-channel customers rose 8.3% in H1, with higher frequency and average transaction value

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy"

• Wall Street's median 12-month price target for Angling Direct PLC is GBp81.50, about 50.9% above its October 12 closing price of GBp54.00

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)