Angling Direct update doesn’t hook investors

The share price of AIM-listed specialist Angling Direct (LON:ANG) sank 13.69% to 59.12p (as of 13:55 GMT) after it said margins for the year ended 31st January had been lower than hoped and post-Christmas trading had been poor. Revenues for the 12 months were up by 26.5%, with store sales increasing by 41.3% as the company increased its number of outlets.

The post-Christmas trading trouble, which has be partially linked to flooding, and a more prudent approach to legacy costs led management to say they expect to book a loss of about £0.5 million for the year.