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Angling Direct - Multi-channel fishing kit retailer enjoying Covid surge in demand

December 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ANG
  • Price:
  • 57.5p
Over the month we spoke with Andy Torrance and Steven Crowe, the newish CEO and CFO, respectively, of Angling Direct, a multi-channel retailer of fishing products in the UK and Europe. The company, which floated on AIM at 64p in July 2017, has already smashed its original target to reach sales of £50m within three years, with turnover having ballooned from £21.1m in the year ended January ‘17 to £53m in FY’20. Although infrastructure investment led to a £1.5m loss, there are reasons to be hopeful. As Torrance, former COO of high flying homewares retailer, Dunelm, 1393p, notes, Covid-19 has driven a renaissance in the UK’s interest in fishing with industry figures showing a 16% increase in angling ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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