Angling Direct (AIM:ANG) upgraded its medium-term financial targets as it reported record group revenue of £103.9m for the year to 31 January, up 13.8% year-on-year.
The leading omni-channel specialist fishing tackle and equipment retailer said adjusted EBITDA rose 42.9% to £4.8m and adjusted profit before tax increased 44.0% to £2.9m, while gross margin improved 140 basis points to 37.6%.
"We are pleased to report record revenues of £103.9m and Adjusted EBITDA of £4.8m, ahead of market expectations upgraded in October 2025," said Steve Crowe, Chief Executive.
UK revenue reached a record £99.2m, up 14.8%, with total UK like-for-like sales up 11.9%, online sales rising 20.0% to £42.8m and the store estate delivering revenue of £56.4m after opening six new sites to take the footprint to 58 stores.
European sales were £4.7m with adjusted EBITDA losses narrowing to -£0.5m, the Group reported net cash of £10.9m at 31 January (31 January 2025: £12.1m) and confirmed £2m has been returned to shareholders to date under its buyback programme.
The Group said strong momentum continued into FY27 with February group revenue up 9.7% but trading softened after the Middle East conflict with March and April group revenue up 5.4%, and the Board said additional costs have been mitigated so FY27 guidance is not impacted at this stage.
