FY22 Half Year Results
for the 6 months to 31 July 2021
October 2021
01
Agenda
HY22 Overview
HY22 Financial Overview
Business Review & Strategic Progress
Summary & Outlook
02
HY22 Overview
Financial highlights
- Group revenue increased 19.5% to £38.4m (HY21: £32.1m)
- Online sales up 3.2% to £18.5m (HY21: £17.9m)
- Retail store sales up 40.1% to £19.9m (HY21: £14.2m)
-
Gross profit of £14.4m, up 33.7% (HY21: £10.8m) with a 390bps improvement in gross margin to 37.4%
(HY20: 33.5%), underpinned by more disciplined approach to pricing and inventory management - Positive Operating cashflow of £5.8m
- EBITDA (pre IFRS 16) of £4.4m (HY21: £2.1m)
- Profit before tax of £3.7m, up 174% (HY21: £1.4m)
- Basic earnings per share of 3.70p (HY21: 2.02p)
- Strong balance sheet with Group net cash of £19.6m at HY22
Operational highlights
- Further digital investment grew UK online conversion by 80 bps to 6.3%
- Recent investment in UK distribution centre capacity utilised to protect supply position relative to wider market
- 'AD+' priority delivery subscription service launched March 2021 driving customer loyalty and now accounts for 16% of all UK online orders
- Established business case and detailed operating model for a European distribution centre, facilitating moving to execution phase - terms agreed on 3,900 square metre facility in the Netherlands
- New category management model delivered agile stocking and pricing in short supply market supporting gross margin growth
- Store transformation programme starting to deliver sustainable levels of EBITDA earnings from retail stores. Stores average transaction value up 3.8% and like for like sales up 32.2%
- Healthy property pipeline for underserved catchments - two further store openings planned by year end
HY22
FINANCIAL OVERVIEW
04
HY22 Highlights
Sales
TOTAL REVENUE GROWTH
HY22 | £38.4m |
HY21£32.1m
HY20 £26.5m
£38.4m
+19.5%
NATIVE WEBSITE COUNTRY REVENUE GROWTH
HY22 £1.0m
HY21£1.6m
HY20 £1.0m
£1.0m
Profitability
GROSS MARGIN %
HY2237.4%
HY21 33.5%
HY20 32.1%
37.4%
+390 bps
EBITDA - PRE IFRS 16
HY22£4.4m
HY21 £2.1m
HY20 £0.8m
£4.4m
Websites
UK WEBSITE VISITORS
HY223.6m
HY213.7m
HY20 2.4m
3.6m
-2.7%
UK WEBSITE CONVERSION
HY22 | 6.3% |
HY21 5.5%
HY205.7%
6.3%
-34.2% | +111.6% | +80bps |
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Angling Direct plc published this content on 13 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2021 07:11:03 UTC.