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Agreed Dick
Sensational stuff
Growing across Europe
Must the cash generation implies 3-5m profit before tax in 2 months with 15m total less the placing proceeds and working capital inflows
Very good message on margin improvement as that will be key to the story from here -improve online margin. Judging from the website, there's many easy wins there too.
With maybe 15m to spend on buying new shops they are incredibly well placed- maybe on 8x 2019 EBITDA ...so they can buy 2m of profit plus the (very conservative) 4m pro forma they'll make in y.e. Jan 22 ...totls 6m pbt for mkt cap of under 50m which includes an online business growing at >30pc
There is huge underlying growth coming from fact half of shops are under 2y old and prior mgmt did not optimize stock range or processes or margin whatsoever
We now have a more experienced Board, with an ex Dunelm man who will be laser focused on execution and rollout unlike the prior more "lifestyle " founder
Competition will go bust or sell to ANG
Surely this will get.tipped in IC or Sunday papers
There must be many PIs or are anglers and this story will appeal
Very positive update should see substantial rise in sp once the new s travels and the net widens
Go Outdoors the owner of Fishing Republic is being placed into administration. FR's website isn't taking orders atm.
Yeah absolutely, many family run tackle shops may not have the balance sheet strength to tough this out. A case of survival of the fittest. The raise was enough to tempt me in. Exec Chair has a lot of skin in the game so every incentive to make this work.
One stock I'm kicking myself for not buying is Shimano, manufacturer of fishing tackle and cycling components, which trades on the Nikkei. Decided against it and watched it put on 30% in very short order.
If people are going to stay in the UK this year and possibly to some extent next, then home grown activities of all sorts are going to be popular, Fishing, Golf, Walking and others - people will want some pleasure - without disrespecting UK resorts, sitting on the likes Blackpool beach does is not have the same attraction as Majorca or Greece.
The world has now changed and people have had a chance to reflect on what they miss and what matters to them - I suspect for many it will be leisure rather than filling wardrobes with more clothes.
Time will tell, but I think the only retailers with a snowball in hells chance of prospering in the short term will be specialist as where there is a choice many shoppers will give shops the swerve (on line sales channels are have been given a major boost) and buy on line.
Most important IMO is that companies have the cash to dodge bullets and take advantage of opportunities, so though the SP may be stagnant for a while the capital raise was a major boost. Options are now available, including pouncing on distressed assets and businesses.
Yeah though matches will be starting from next week and with most other sports still not on the menu it seems reasonable to expect increased participation.
Apparently some tackle shops have been trading illicitly, remains to be seen how much damage that may have done to ANG's trade.
Fishing has been allowed for the past fortnight though it's slow progress where i fish .
Taken a starter position this morning. NTAV was nearly £20m at 31st Jan. I can see social distancing making fishing really popular. With gross margins over 30% it won't take too much to make this business profitable.
what a great share this is through this lockdown
sure Many out there fishing doing there part in covid social distancing
Found this on AD website with a google search.
You might be wondering why you've landed on this site after searching for Erics Angling. The company's website became part of Angling Direct plc in October 2019 and we are beginning the process of merging the two - with the aim to provide you with an enhanced shopping experience. We hope to make the transition from Erics Angling to Angling Direct as seamless as possible, expanding on the product range and improving on the already excellent customer service that you'll have been used to as a valued Erics Angling customer.
will double back to old levels once this covid is over
just bought a few, will hold long term and add on the dips.gla
A lot of massive sells today over 3mill sold?
believe me , this share will go back to previous levels & more .
this is purely my opinion ( having read the disclaimers below ! ) but often opinions count ?
buy now while cheaper .
Dont know what happened to erics i tell you what happened he just sold out for over a million . imo ang is going places
Yes , we will definitely have to agree to disagree. Seen this before many times ,heavy discounting and rapid expansion brought down Fishing republic , Tackle 2 Fish went a couple of years ago , Real deal before them , Don't know exactly what's happened to Erics of Leeds but I'm informed that they've closed . All were heavy discounters and fallen by the wayside .As for your comments of getting ripped off by so called independent shops well I'm sure they would take that very
personally.Seem s to me like we've touched a nerve here and we will see what happens in the not too distant future . Fortunately I do not have anything invested here but good luck with your investment.
well actually it is pretty straightforward in my view.... they are discounting and opening larger stores to fuel growth and increase market share... now, given that all your posts have been negative, and you have been in the business for 20 odd years I understand you have a view.. but as a committed angler I am equally as biased in that I am sick of being ripped off by so called independent shops and ebay stores. So, the money they have invested in physical stores and on line marketing to my mind makes sense and, I consider the update to be good news. We will have to agree to disagree but lets not pretent we are objective in our assessments. Cheers DJ
Back in October 2018 They raised £20m by issue of shares and have according to their results traded at at a profit and increased turnover etc. but only have £13m left in bank? . share price has dropped from a high of £1.11.5 to 67p ? maybe someone out there can enlighten me of what the real picture is here ?
the results are excellent ….13m in cash, 29 stores and increasing revenues both on line and physical. I presume the margins are still tight but this is a growth business and increasing market share takes time and focus.. with staycations on the increase given Brexit and the weak pound its my LTH for a good while yet... DYOR
13 May 2019
Angling Direct plc
("Angling Direct" or the "Company" or the "Group")
Full year results for the 12 months ended 31 January 2019
Angling Direct plc (AIM: ANG), the largest specialist fishing tackle and equipment retailer in the UK, is pleased to announce its audited financial results for the twelve months ended 31 January 2019.
Financial Highlights:
· Group sales of £42.0m up by 39% (2018: £30.2m)
· Online sales of £22.3m up by 30% (2018: £17.1m) with international sales up by 112%
· Store sales of £19.7m up by 50% (2018: £13.2m) including like-for-like store growth of 6.2%
· Gross profit of £13.8m up by 40% (2018: £9.9m) with gross margin increasing to 32.9%
· Net cash equivalents at 31 January 2019 of £13.5m (2018: £0.8m)
· Successfully completed a placing raising £20.0m.
Operational Highlights:
· Store network increased to 24 at the year-end (2018: 21), with new stores opened in:
- Guildford (6,500 sq ft),
- Peterborough (3,500 sq ft)
- Preston (3,000 sq ft) - following the acquisition of Ted Carter Fishing Tackle
· Three additional stores opened post year-end including the acquisition of Chapmans Angling, increasing the network to 27 stores. The Group is targeting opening 7 additional stores during the fiscal year
· Continued investment in online marketing including the opening of the German, French and Benelux websites
· International sales up by 112% exporting to more than 48 countries
· Introduction of the new Kardex stock control and picking system is delivering efficiencies in distribution and warehousing, whilst also future proofing capacity.
Angling Direct are exhibiting at Mello2019 which may be worth attending https://melloevents.com/event/
ShareSoc have a special discount for our full members to the Mello2019 show! So, if you are planning on going to the Mello event it may be worth joining us as a full member too here: https://www.sharesoc.org/membership/full-membership/
You can save up to £60 on the £149 ticket if you join ShareSoc!
This is way over sold for what the company is achieving!
some pretty big sells going through at the moment ! has some news been leaked or results due ?
Nice RNS on the surface , sales percentage up but no mention of wether there is any profit in the sales ? seen this before with FISH and look where they are now . Can't wait for the actual profit and loss details .