Angling Direct PLC Update re. November Lockdown (3095E)
05 November 2020 - 6:00PM
UK Regulatory
TIDMANG
RNS Number : 3095E
Angling Direct PLC
05 November 2020
5 November 2020
Angling Direct plc
("Angling Direct", the "Company" or the "Group")
Update re. November Lockdown
Angling Direct plc (AIM: ANG), the largest specialist fishing
tackle and equipment retailer in the UK, provides an update on the
Group's operations in relation to the UK government's enforced
closure of non-essential retail stores for four weeks from Thursday
5 November.
The Company confirms that its stores are now closed, but will
remain trading with a call-and-collect service adopted in
accordance with government guidelines. Angling Direct's webstore
remains fully operational for both the UK and European sales, with
the distribution centre geared to fulfil increased demand through
this channel, with the upcoming Black Friday and Christmas
period.
The Company notes that momentum achieved in the half year has
continued with sales remaining robust through October. The
Company's balance sheet and liquidity position remains strong and
the majority of its key suppliers have confirmed that they will
continue to operate during the lockdown period. As a result, the
Board confirms that the Group continues to trade in line with
market expectations for the year ending 31 January 2021.
Angling Direct is pleased the wellbeing benefits of fishing
continue to be recognised and agrees with Angling Trust's
interpretation of government guidelines, that angling is a
legitimate health and wellness activity which can safely
continue.
For further information please contact:
Angling Direct PLC +44 (0) 1603 258658
Martyn Page, Executive Chairman
Andy Torrance, Chief Executive
Officer
Steven Crowe, Chief Financial
Officer
N+1 Singer - NOMAD and Broker
Peter Steel, Alex Bond (Corporate
Finance)
Tom Salvesen (Corporate Broking) +44 (0) 20 7496 3000
Yellow Jersey PR - Financial PR
Charles Goodwin
Georgia Colkin +44 (0) 7747 788 221
Annabel Atkins +44 (0) 7825 916 715
About Angling Direct
Angling Direct is the largest specialist fishing tackle retailer
in the UK. The Company sells fishing tackle products and related
equipment through its network of retail stores, located throughout
the UK as well as through its own websites
(www.anglingdirect.co.uk, .de, .fr and .nl) and other third-party
websites.
The Company currently sells over 21,500 fishing tackle products,
including capital items, consumables, luggage and clothing. The
Company also owns and sells fishing tackle products under its own
brand 'Advanta', which was formally launched in March 2016.
From 1986 to 2002, the Company's founders acquired interests in
a number of small independent fishing tackle shops in Norfolk and,
in 2002, they acquired a significant premise in Norwich, which was
branded Angling Direct. Since 2002, the Company has continued to
acquire or open new stores, taking the total number up to 38 retail
stores. In 2015, the Company opened a 30,000 sq. ft central
distribution centre in Rackheath, Norfolk, where the Company's head
office is also located. The Company has an established, and rapidly
growing, presence in Europe with native language websites set up in
key regions to address demand.
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END
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