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Angling Direct's investment in e-commerce pays off as revenues surge 44%

StockMarketWire.com

Angling Direct revenue rose by nearly 44% to £30.2m in the 12 months to 31 January 2018 compared with the prior year period.

The company saw revenue growth across the board with the company's e-commerce platform and operations reporting a 54% jump in direct sales year-on-year, underpinned by several recent months of over 1.0m visits to the company's website.

Retail sales in-stores were up 40% year-on-year, while like-for-like sales in-stores rose by 10%.

The company said the upbeat performance came against the backdrop of uncertainty across the wider economic and consumer environment, as well as structural changes in retail buying habits, resulting in increased price competition.

The company said it expects that its continued investment in e-commerce and marketing would help it succeed in this evolving retail environment.

The company also expects to invest more resources this year into growing overseas sales, which will be driven in part by the introduction of country specific websites.

At 8:52am: (LON:ANG) Angling Direct Plc Ord 1p share price was +0.5p at 97.5p


Story provided by StockMarketWire.com