A fishing retailer headquartered in Norfolk achieved record revenue last year after opening two new stores in Yorkshire and Wales.

Angling Direct, which owns 47 fishing tackle and equipment shops across the UK, saw revenue increase 10pc in 2023 compared to the previous year to a total of £81.7m.

The company, based in Rackheath, said the “significant” growth was due in part to its two new shops, in Cardiff and Goole in Yorkshire, which had contributed £3.6m in sales since opening.

The retailer’s website sales also grew 13.5pc on the previous year to £37.2m, driven in part by a 36.3% increase in its European online sales.

But despite a successful year, CEO Steve Crowe said there were challenges on the horizon.

He said: “Alongside other retail businesses, we face cost increases from higher than anticipated wage and business rates related cost inflation and are mindful of the possibility for supply chain disruption. 

“The group’s strong pipeline of investment opportunities, coupled with its robust balance sheet and prudent focus on cost control, provides the board with the confidence that the group remains well-positioned to navigate these challenges.”