Added to YB: 2026-08-26
Pitch date: 2026-08-23
ANG.L [bullish]
Angling Direct PLC
+4.26%
current return
Author Info
XIX Value looks for cheap, overlooked, and unpopular stocks, preferably those trading below their Book Value or that are “net-nets”, just as Walter Schloss and the young Warren Buffett did. Sign up for the newsletter.
Company Info
Angling Direct PLC, together with its subsidiaries, engages in the sale of fishing tackle products and related products in the United Kingdom, Europe, and internationally.
Market Cap
GBP 34.1M
Pitch Price
GBP 0.47
Price Target
N/A
Dividend
N/A
EV/EBITDA
4.78
P/E
16.91
EV/Sales
0.35
Sector
Specialty Retail
Category
value
$ANG.L Angling Direct is the biggest fishing tackle retailer in the UK.
ANG.L: UK's #1 fishing tackle retailer, ~18% share (7x nearest rival) in a £550M market of fragmented independents—long runway to consolidate. £34M mkt cap vs £41M net assets (0.84x book) and £11M net cash (EV ~£23M); buying back stock. FY26 (Jan-26): revenue +13.8% to £103.9M, adj EBITDA +42.9% to £4.8M, EPS +51.9% to 2.81p. Loyalty club 600k members (+47%) drives repeat purchase and cheaper marketing. Risks: recent sales slowdown (Middle East conflict), loss-making German/Dutch ops, and ~17x earnings—thesis rests on growth continuing.
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