Fishing Republic nets sales increase

​​​​​Fishing Republic, one of the UK’s biggest fishing tackle retailers, ​said sales in the first half of 2015​ are​ ​expected to show a small increase and margins have improved ​considerably.
By The Newsroom
Published 21st Jul 2015, 17:42 BST

The Rotherham-based firm, which floated on AIM last month, said it was pleased with its trading performance over the first six months ​of 2015.

​It said that a​ll areas performed well and online sales are significantly ahead of last year, reflecting the programme to improve the ​c​ompany’s website.

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​​Chief executive Steve Gross said​ ​​trading has started well in the second half of the year and the ​c​ompany is looking to expand by making some small acquisitions​.

He added that the group is making progress ​on plans to open a new outlet in the Midlands.

The ​c​ompany will announce its maiden half year results on September 2​​.

​Last month’s​ float proceeds will be used to pursue acquisitions and develop ​the group’s​ online presence.

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“No-one to my knowledge has tried to consolidate the fishing tackle market before and my aim is to do just that​,” said Mr Gross​.

​“​We have the benefit of first-mover advantage, a wide knowledge of both the retail and wholesale fishing tackle marketplace and staff who are passionate about fishing.”

According to industry figures, there are about 2,500 specialist fishing tackle retailers in the UK and the retail value of the angling trade in 2011 was £541m.

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