NEWS
Penn offers trip of a lifetime!
F
ive lucky anglers have the chance to win a once-in-a-lifetime fishing trip to Costa Rica with PENN Europe. Anglers who have purchased at least £300 worth of PENN gear between January 11 and April 30, 2023, are eligible to participate. The grand prize includes the opportunity to catch yellowfin tuna or beat the roosterfish resort record at Crocodile Bay.
AD posts below inflation growth
A
ngling Direct has released an unaudited trading update for the financial year ending 31 January 2023, indicating a 2.2% increase in revenue to £74.1m.
Despite the challenging macro- economic environment characterised by inflation and the cost of living pressures, the company was able to grow sales, mainly buoyed by robust retail store sales. The number of stores increased
To enter, participants must go to the sign-up form, enter their contact details, and upload receipts for PENN gear acquired during the promotional period. The entry deadline is midnight on April 30, 2023. Winners will be selected at random and announced on May 10, 2023. The travel dates for the fishing trip are June 11 to 19, 2023, flight dependent. This incredible opportunity is open to anyone who purchases PENN gear at any retailer.
from 42 to 45, with the new openings contributing £0.9m of sales in the year. Online sales, decreased by 3.0% to £32.8m; however, UK online sales were still 57.9% above pre-Covid levels, indicating a significant step change in the company’s omni- channel offering.
Despite the turbulent consumer
environment and sustained cost pressures, the company’s management remained focused on delivering its long-term strategy of profitable
growth. The board expects to report pre-IFRS 16 EBITDA of no less than £2.2m for FY23, in line with market expectations. The company also settled residual claims with its insurers related to the disruption caused by the cyber- attack in November 2021. Overall, Angling Direct’s leading omni-channel model, combined with the strategic and operational progress achieved in FY23, leaves the company well placed to benefit from ongoing consolidation in the industry, according to CEO Andy Torrance. Andy Torrance will step down from his position as CEO and will be replaced with Steve Crowe, who is currently Angling Direct’s chief financial officer. The timing of these changes is dependent on the recruitment of an experienced CFO to work alongside Steve to deliver the Group’s growth strategy, with the earliest potential implementation to coincide with the Annual General Meeting in June 2023.
Highland Outdoors gets Spartan Precision distribution H
ighland Outdoors has announced a new distribution partnership with Spartan Precision, which effective from April. Spartan Precision is known for producing lightweight
and effective rifle and optic support systems. The brand continuously strives to find new and better solutions, and is always exploring new materials to improve its products. The company has exciting new product releases in the pipeline and is dedicated to expanding its business in established markets while exploring new opportunities. The deal will increase market visibility and accessibility to consumers for Spartan’s products. The team at Highland Outdoors is looking forward to working with Spartan Precision and is committed to promoting its products. Steve Kelly, commercial sales director of Highland Outdoors
Group, said: “What an opportunity - the Highland team are very excited to be working alongside Spartan Precision and pledge a substantial commitment to their products and team. We relish the opportunity to increase Spartan’s market visibility and to ensure the Spartan product range is more readily accessible to local consumers.”
6 | Tackle & Guns | Issue: 756
www.tandgmagazine.com
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