Angling Direct – Coronavirus update. Where has all the money gone?
By Tom Winnifrith | Monday 6 April 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
My beef with Angling Direct (ANG) is that I view fishing as a sport increasingly enjoyed by old codgers. I look at the local club that rents our stretch of the River Dee and fear that after each cold winter it will be needing rather fewer pegs. I see a business growing its online sales sharply but whose offline operation still accounts for half of sales and which, for all the usual reasons, must be in decline. And today we have a Covid 19 update and a big warning on cash which, for reasons I am sure you can guess, does not actually say how little cash is left.
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