As the fiscal year 2024 progresses, Angling Direct maintains a positive outlook despite anticipating a challenging consumer backdrop in fiscal 2025. The U.K.-based fishing-tackle and equipment retailer acknowledges the disruptions caused by storms but remains confident in its ability to overcome these obstacles and continue on a path of growth in the upcoming financial year.
Navigating Uncertain Economic Landscape
Chief Executive Steve Crowe acknowledges the current uncertainties surrounding economic growth and consumer spending as the company moves into fiscal 2025. Angling Direct, like its retail counterparts, faces potential challenges such as rising costs from wage increases, business rates, and supply chain disruptions. However, the company reassures stakeholders that they have yet to experience any significant impact on stock availability.
Financial Outlook
Angling Direct is set to meet company-provided market expectations for the year ending January 31, with revenue projected at £83.0 million and adjusted EBITDA of £2.7 million. The company forecasts a 10.2% revenue increase to £81.7 million, driven by a 9% growth in U.K. sales to £77.4 million. Notably, European online sales are expected to surge by 36% to £4.3 million, reflecting Angling Direct's strategic focus on enhancing its European business proposition and expanding its market share.
Online Sales Surge
In response to evolving consumer trends, Angling Direct reports a significant boost in online sales both in the U.K. and Europe. Online sales in the U.K. escalated to £32.9 million from £29.6 million, showcasing the retailer's adaptability to the digital landscape and commitment to meeting customer preferences.
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