ANGLING DIRECT PLC - Half year results for the six months ended 31 July 2026

Angling Direct grew UK earnings faster than sales and cut European losses while aggressively buying back shares at 44p.

• UK outperforms despite weather: UK H1 revenue rose 6.9% to £54.6m with like-for-like growth of 2.9%, despite a dry summer drought and Iran-conflict-driven fuel price shock hurting Q1.
• Earnings over-index sales: Group adjusted EBITDA grew 10% to £4.5m in the UK (margin up 30bps to 8.3%), driven by £2m+ digital shelf-edge labeling and automated packing investments offsetting a 40bps gross margin decline from discounting and warranty-claim shrink.

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