Fishing Republic (AIM:FISH) – sales a whopping 43% ahead…but not a bite from the market
The newly listed fishing tackle retailer which arrived on AIM in June 2015 has announced a positive update on trading during the second half of its financial year. Despite announcing a meaningful rise in sales, the share price didn’t budge.
For the four months ending 31 October 2015, being the close of the main fishing season, sales were 43% ahead of the same period last year, largely reflecting increasing sales and marketing activity. No doubt this increase will come with some additional cost but it sounds encouraging nonetheless. The company is also extending its trading area into the West Midlands, having signed a lease on a retail unit in South Birmingham as well as signing a lease for a new larger store in Hull, which will replace its existing outlet in the city. The Birmingham site comprises approximately 5,300 sq.…