Angling Direct PLC Update re. Tier 4 Restrictions (2519J)
December 21 2020 - 1:00AM
UK Regulatory
TIDMANG
RNS Number : 2519J
Angling Direct PLC
21 December 2020
21 December 2020
Angling Direct plc
("Angling Direct", the "Company" or the "Group")
Update re. Tier 4 Restrictions
Angling Direct plc (AIM: ANG), the largest specialist fishing
tackle and equipment retailer in the UK, provides an update on its
operations in relation to the UK government's enforced closure of
non-essential retail stores in England's Tier 4 areas from Sunday
20th December.
The Company confirms 12 of its stores are now closed, but will
remain trading with a call-and-collect service adopted in
accordance with government guidelines. Angling Direct's other 26
stores and its webstore remain fully operational for both the UK
and European sales, with the distribution centre geared up to
fulfil increased demand through this channel.
The Company notes that its positive sales momentum has continued
since updating the market at the start of December. Notwithstanding
further restrictions impacting the rest of the store network, the
Board reaffirms that the Company remains on track to deliver full
year 2021 EBITDA (pre IFRS 16) of not less than GBP3.8m and its
balance sheet and liquidity position also remain strong.
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 +44 (0) 7747 788 221
Georgia Colkin +44 (0) 7825 916 715
Annabel Atkins +44 (0) 7983 557 851
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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