Angling Direct: a rare ray of sunshine on the high street
What does it take to defy the gloom of the UK retail sector? A network of 24 stores which sell fishing equipment and tackle looks like a good bet.
It’s bleak on the British high street. Up and down the country retailers are being forced to close their doors as a downturn in consumer spending dampens the outlook for revenue growth, while excessive discounting hammers margins. But there is a ray of sunshine amid the gloom in the shape of Angling Direct (ANG) – the UK’s largest fishing tackle and equipment retailer. The group arrived on AIM in July 2017 at a share price of 64p and market capitalisation of £27.4m. With the share price now standing some 28% higher at 82p it’s been an admirable performance in the…