Fishing Retailer’s Profits Hit by Winter Flooding
- Angling Direct reports a 26.5% increase in revenues
- Winter flooding impacts profits despite strong online sales growth
- In-store sales up by 41.3% to £27.9m
- Online sales increased by 13.3% to £25.2m
- German, French and Dutch websites saw significant growth
- Total international sales up 7.6% to £5m
- International sales account for 19.9% of total online sales
- Company added 10 new stores during the period
- Strong balance sheet with £5.9m cash held at end of January
Angling Direct, a fishing tackle and equipment retailer, has reported a 26.5% increase in revenues despite being affected by winter flooding. In-store sales increased by 41.3% to £27.9m, while online sales grew by 13.3%. The company’s German, French, and Dutch websites experienced significant growth. However, the retailer faced a disappointing trading period post-Christmas due to flooding, which impacted profits. Despite strong online sales growth, the company expects a pre-IFRS 16 EBITDA loss of no more than £500,000.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the company’s financial performance, including revenue growth, online sales, and the impact of winter flooding on profits. It also mentions the addition of new stores during the period. However, it lacks some details about the specific effects of the flooding on different product categories or regions.
Noise Level: 3
Noise Justification: The article provides relevant information about the company’s financial performance and the impact of winter flooding on profits. It also mentions the growth in online sales and expansion through acquisitions. However, it lacks a deep analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Angling Direct’s profits
Financial Rating Justification: The article discusses Angling Direct’s financial performance and how winter flooding impacted their profits, affecting their sales and EBITDA. It also mentions the company’s expansion with new store acquisitions.
Presence Of Extreme Event: Yes
Nature Of Extreme Event: Flooding
Impact Rating Of The Extreme Event: Moderate
Extreme Rating Justification: The flooding affected profits and fishing activity, leading to a lower margin on consumable products.
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